Wealthfront, the Palo Alto–based automated wealth management platform, is targeting a valuation of up to $2.05 billion as it prepares for its forthcoming US initial public offering.
The firm intends to raise as much as $485 million through the sale of 34.6 million shares, priced between $12 and $14 each, a portion of which will be offered by existing shareholders.
Positioned at the crossroads of artificial intelligence and financial technology, Wealthfront is looking to tap into the strong investor enthusiasm surrounding AI-driven innovation. The move follows a wave of successful fintech listings this year, including Klarna in Sweden, U.S. digital bank Chime, and Israel’s trading platform eToro, all of which attracted significant demand.
The U.S. IPO market has regained momentum after a period of slowdown linked to trade policy uncertainty. Growing expectations of an interest rate cut by the Federal Reserve have further boosted investor appetite for new listings, although confidence remains sensitive to negative market developments.
Founded in 2008, Wealthfront provides automated financial services such as cash accounts, low-cost lending products, and investment portfolios built around ETFs and bonds, with a strong focus on Millennial and Gen Z clients. Major institutional backers including BlackRock and Wellington Management have signalled interest in acquiring up to $150 million worth of shares in the IPO.
Wealthfront intends to list on the Nasdaq under the ticker “WLTH”, with Goldman Sachs, J.P. Morgan, and Citigroup acting as underwriters. The company was last valued at $1.4 billion in 2022, when its planned acquisition by UBS collapsed following pushback from shareholders.
