Equities

Wealthfront seeks Nasdaq IPO after botched UBS deal

 |  IFR 2603 - 4 Oct 2025 - 10 Oct 2025  | 

Wealthfront is seeking a Nasdaq IPO after a failed sale of the fintech to UBS three years ago. 

Goldman Sachs and JP Morgan are joint bookrunners selling a mix of primary and secondary shares. Primary proceeds will be used to help employees settle their tax obligations regarding restricted shares, to replenish coffers and for potential acquisitions. 

Wealthfront’s IPO will be the latest addition to a group of recently listed fintechs, including buy-now, pay-later company Klarna, mobile banking services provider Chime and auto finance platform LendBuzz.

The offering also comes after a botched deal for UBS to acquire the automated wealth management tech company for US$1.4bn in 2022, just before the company achieved positive Ebitda. 

Wealthfront has since grown independently, seeking to displace traditional financial advisers with its ease of use, product innovations and academic research, especially among “digital natives” or people born after 1980. 

Wealthfront posted US$154m in adjusted Ebitda in the trailing 12 months as revenues grew 26% to US$339m. Its adjusted Ebitda margin stood at 46%. 

The fintech has US$88bn assets on its platform, roughly split between cash management and investment advisory. It said the platform recorded asset growth of 24% over the year earlier period.

Tiger Global is the largest shareholder, with a 20% stake, having invested in the company since 2018. Venture firms DAG Ventures, Index Ventures and Ribbit Capital hold stakes of between 8.8% and 12.3% in the fintech.

Wealthfront recorded US$142.9m of cash as of January 31, just under the US$192.7m of total liabilities it carried.