Fintech platform Wealthfront aims to raise up to $485 million in US IPO

Automated digital wealth management firm Wealthfront said on Tuesday it was aiming to raise as much as $485 million in its initial public offering in the United States.

Wealthfront, founded in 2008 by Andy Rachleff and Dan Carroll, provides automated tools such as cash accounts, ETF and bond investing, as well as trading and low-cost loans to its clients.

The company, a pioneer in using automation to build low-cost investment portfolios, has incorporated elements of artificial intelligence into its financial planning software.


Wealthfront intends to list on the Nasdaq Stock Market under the "WLTH" symbol. Goldman Sachs, J.P. Morgan and Citigroup are among the underwriters for the offering.