Digital wealth management platform Wealthfront has filed for an initial public offering, lining up the Palo Alto, California-based startup to join a string of fintech IPOs in the U.S. this year.
In an S-1 amendment filing with the U.S. Securities and Exchange Commission, Wealthfront says it plans to raise $485 million in the IPO by selling 34.6 million shares, including stock offered by existing shareholders, at a price range of $12 to $14 each.
The company is targeting a valuation of $2.05 billion and will list on the Nasdaq exchange under the ticker WLTH. It had filed confidentially for a U.S. initial public offering in June. Wealthfront was set to be acquired by UBS before that $1.4 billion deal fell apart in September 2022.
The fintech startup is profitable, according to its filings. As of July 31, 2025, Wealthfront reported net income of $123 million on 26% higher year-over-year revenue growth of $339 million.
It has raised more than $274 million in funding since its 2008 inception, per Crunchbase data. Investors include Slow Ventures, Index Ventures, Benchmark, Spark Capital, Ribbit Capital and Tiger Global Management, among others.
It’s been a busier-than-normal year, at least compared to recent years, for fintech IPOs. Since the beginning of 2025, several companies in the fintech space have either gone public or filed to do so. Although many had impressive debuts, shares have since settled down some.
- In early June, shares of Circle closed up 168% at $83.29 in their first day of trading on the New York Stock Exchange, minting the stablecoin issuer with a market cap of around $16.7 billion and renewing hopes for an IPO market rebound. As of mid-July, the stock had more than doubled from its first-day closing — trading at more than $200 per share, but has since fallen sharply with shares trading at just under $78 as of Dec. 2.
- Digital bank Chime went public on June 12 and came out swinging. Its shares shot up 37% in first-day trading on Nasdaq, closing at $37. But as of Dec. 2, the stock was trading at around $22.
- Klarna went public on Sept. 10, with shares climbing about 16% on its first day of trading and closing at $46.40. But as of Dec. 2, shares of the Stockholm-based company, which has evolved its model to offer more than just buy now, pay later plans, were trading at around $31.
- Shares of Navan closed at $20, down 20%, in first-day trading on Oct. 30, indicating lackluster investor demand for the long-awaited debut. Navan, which operates an enterprise expense management platform with an emphasis on business travel, has since seen its shares drop even further. The stock was trading at just above $15 on Dec. 2.
Given that volatility, it will be interesting to see how Wealthfront performs once it hits the public markets.
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Illustration: Dom Guzman
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