rewrite this title Wealthfront Files S-1, Targeting $2 Billion IPO – Finovate

Wealthfront filed an S-1 with the SEC, planning to raise up to $485 million by offering 34.6 million shares at $12 to $14 each, targeting a $2 billion valuation.

The wealthtech firm was founded as kaChing and rebranded to Wealthfront in 2010 and has expanded from robo-advisory into high-insurance checking, savings, and credit products.

The IPO follows a previously canceled $1.4 billion UBS acquisition, and positions Wealthfront among a new wave of fintechs going public, including eToro, Chime, and Klarna.

Wealthtech firm Wealthfront revealed this week that it has filed an S-1 with the US Securities and Exchange Commission, taking its first formal step toward an IPO.

According to the filing, Wealthfront plans to offer 34.6 million shares at $12 to $14 each, which would raise up to $485 million and value the company near $2 billion. The company plans to list on the Nasdaq under the ticker symbol WLTH.

Founded in 2008 and making its Finovate debut as kaChing a year later, the company rebranded to Wealthfront in 2010 and has since solidified its place as a pioneer in the wealthtech space. Since launch, Wealthfront has evolved its platform to add challenger banking features such as a checking account with up to $8 million in FDIC insurance, which is made possible via the company’s partnerships with 32 program banks. The fintech also offers a high-yield savings account, a portfolio line of credit, an automated bond ladder, and is working on a mortgage lending product.

Wealthfront generally targets younger investors who hold an average balance of $67,000, while 180,000 of its clients hold more than $100,000 in assets and over 10,000 clients have assets more than $1 million in assets on the platform.

This isn’t Wealthfront’s first move toward an exit. In January 2022, the company formed a $1.4 billion deal to be acquired by UBS. At the time, that price reflected a premium of at least 2x on Wealthfront’s most recent private market valuation. Wealthfront called the acquisition a “strategic partnership” that would enable the company to offer new services and give its customers access to “UBS’s industry-leading investing insights and research.”

Two weeks after unveiling the acquisition plans, however, UBS called off the deal. Shareholders were reportedly spooked, as it came during a period of significant decline in fintech valuations. Notably, however, Wealthfront’s current $2 billion target valuation is significantly higher than the $1.4 billion acquisition price UBS had offered in 2022, which would equate to roughly $1.55 billion in today’s dollars after adjusting for inflation.

In going public, Wealthfront is in good company with other fintechs including eToro, which debuted in January of 2025; Chime, which went public in June of 2025; and Klarna, which debuted in September 2025 after postponing the move for six months.

With the S-1 now public, Wealthfront will enter the SEC review process and prepare for a roadshow, which places its likely IPO window in early 2026.

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