Wealthfront

Wealthfront is one of the first fully digital wealth-management platforms in the United States, built for Millennial and Gen Z investors. Founded in 2008, the company developed an automated robo-advisor system that combines low-cost diversified portfolios with cash management, borrowing and lending products, and financial planning tools. Wealthfront operates on a software-only model, offering clients fast, convenient, and cost-efficient access to investment solutions.

Wealthfront plans to raise up to $485 million through its IPO at a target valuation of around $2.05 billion.Underwriters include Goldman Sachs, J.P. Morgan, Citigroup and others.

The company continues to show steady growth in both its client base and assets under management, driven by automation, low fees, and a highly scalable technology platform. Strong positioning among digital-native generations and the expansion of its product suite, from investing to credit solutions, make Wealthfront one of the most notable fintech IPOs of the year.

Wealthfront is set to list on Nasdaq under the ticker WLTH, with a price range of $12–14, aiming to raise $485 million at an estimated valuation of around $2.05 billion.

Investor interest is driven by the rising demand for digital financial solutions in the U.S. and a clear shift toward automated platforms. Wealthfront strengthens its market position through a scalable technology architecture, a fully online service model and a focus on the needs of generations that prefer managing their finances through mobile apps.

Amid the broader trend toward autonomous, low-cost financial services, Wealthfront is viewed as one of the key fintech IPOs of the year — particularly within the segment of long-term wealth-building digital platforms.

Application deadline — December 11, 18:00 (UAE).

• Ownership: Wealthfront is a privately held technology company founded in 2008 by Andy Rachleff and Dan Carroll. Ahead of its IPO, the ownership structure includes early employees, institutional investors, and several venture capital funds that have supported the platform’s growth in automated financial services.

• Market Position: One of the leading digital-first investment platforms in the United States. Wealthfront serves several million clients and manages a significant volume of customer assets through a fully automated model without traditional financial advisors. The platform stands out for its broad product suite – from diversified investment portfolios to liquidity management tools and securities-backed credit solutions.

• Financial Performance: In recent years, Wealthfront has shown steady growth in assets under management and client adoption, reinforcing its operating revenue. The rising share of recurring-fee products and expanding use of cash-management services support the company’s transition toward a more sustainable revenue model. FY2025 figures indicate improved operating leverage and a continued increase in client deposits.

• Risks: Intense competition among fintech platforms and brokers, dependence on capital market conditions, potential margin pressure driven by rising customer acquisition costs, and regulatory sensitivity within the U.S. digital-finance ecosystem.

• IPO Objective: To strengthen the company’s financial position, expand marketing and technology investments, scale its lending and automated product offering, and enhance brand visibility amid rapid growth in the digital wealth-management sector.

Wealthfront emerged in response to a shift in investing behavior in the United States, as younger generations began seeking services that could replace traditional financial advisors with digital tools. Founded in 2008 in Silicon Valley, the company began as a small project that used software algorithms to automate investing and make it accessible to people with no financial background.

The first versions of the platform focused on simple, low-cost portfolios managed entirely through automation. But the audience grew: users wanted more control, more tools, and greater flexibility. This became the starting point for Wealthfront’s evolution from a narrow robo-advisor into a full-scale financial platform.

Over time, the company expanded its product offering: high-yield cash accounts, financial planning tools, automated tax optimization, and later — borrowing solutions backed by investment portfolios. All of this was built on a software-only approach: no branches, no manual advisory services, and a strong emphasis on scalability and accessibility.

The platform’s growth was driven by continuous strengthening of its technological infrastructure, from recommendation algorithms to sophisticated personalization systems. These improvements enabled Wealthfront to attract millions of clients and manage increasingly large volumes of assets while keeping servicing costs low.

Today, Wealthfront is preparing to list on Nasdaq at an estimated valuation of around $2.05 billion. The company aims to reinforce its financial position, expand its product capabilities, and accelerate the digital transformation of personal finance. Its decision to go public reflects an important trend: a new generation of investors prefers services built not by banks, but by technology companies that understand digital user behavior and can scale financial solutions through software.

Wealthfront is an example of how fintech reshapes the landscape: investing is no longer an elite service — it is a technological product accessible to anyone with a smartphone.

— What is an IPO?
An IPO (Initial Public Offering) is when a private company lists its shares on a stock exchange for the first time to raise capital from investors. From that point onward, the company’s shares can be freely bought and sold on the open market.

— Where are IPOs conducted?
IPOs take place on the world’s largest stock exchanges. In the U.S., the primary venues are the NYSE (New York Stock Exchange) and NASDAQ. Once a company goes public, its shares are freely traded on these exchanges, and the market price is established after the offering.

— What is allocation?
Allocation (from “allocation” — distribution) refers to the process of distributing resources, assets, or capital for maximum efficiency. In investing, allocation usually means distributing the available amount of shares among investors in an IPO or private placement.

— How much allocation does an investor receive?
The allocation size is determined by the terms of each specific offering and typically ranges from 2% to 30% of the submitted application amount. In some cases, the allocation may reach 100%. In rare instances, no allocation may be granted — in that case, the full amount of the application is returned to the investor’s account and becomes available for reinvestment or withdrawal. Information on the actual allocation volume is usually provided about one day before the IPO, approximately six hours prior to the transaction.

Example — Bullish IPO (Aug 13, 2025):
An investor placed an order for $10,000. The allocation was 29.6%, meaning $2,960 was invested in the IPO. The remaining $7,040, including the purchase commission, was refunded to the balance and became available for withdrawal.

Klarna IPO (Sept 10, 2025):
An investor placed an order for $10,000. The allocation was 14%, meaning $1,400 was invested in the IPO. The remaining $8,600, including the purchase commission, was refunded to the balance and became available for withdrawal.

Figure IPO (Sept 11, 2025):
An investor placed an order for $10,000. The allocation was 16%, meaning $1,600 was invested in the IPO. The remaining $8,400, including the purchase commission, was refunded to the balance and became available for withdrawal.

Gemini IPO (Sept 12, 2025):
An investor placed an order for $10,000. The allocation was 29%, meaning $2,900 was invested in the IPO. The remaining $7,100, including the purchase commission, was refunded to the balance and became available for withdrawal.

Legence IPO (Sept 12, 2025):
An investor placed an order for $10,000. The allocation was 78%, meaning $7,800 was invested in the IPO. The remaining $2,200, including the purchase commission, was refunded to the balance and became available for withdrawal.

Black Rock Coffee Bar IPO (Sept 12, 2025):
An investor placed an order for $10,000. The allocation was 68%, meaning $6,800 was invested in the IPO. The remaining $3,200, including the purchase commission, was refunded to the balance and became available for withdrawal.

— Why do companies go public?
To raise growth capital, increase brand visibility, and provide early investors and employees with an opportunity to sell part of their shares.

— How is participating in an IPO different from buying shares on the exchange?
When you participate in an IPO, you buy shares before they start trading publicly. This provides an opportunity to purchase at the fixed offering price but also carries the risk that the price may drop once trading begins.

— What do I get by participating in an IPO through Regolith?
You become an investor in the company at the IPO stage via our U.S. partner infrastructure. After the transaction is completed and the lock-up period expires, profits from the share sale are distributed among investors proportionally to their stake in the deal.

— What is a lock-up period and how long does it last?
A lock-up period is a timeframe set by the issuer and underwriters during which shares cannot be sold. For IPOs offered through our platform, this period is 93 days. Once it ends, the shares are sold on the exchange and proceeds are distributed among investors.

— How is participating through the platform different from buying shares independently?
To buy independently, you would need access to a U.S. broker, a significant investment amount, and approval from underwriters. The platform pools capital from investors, providing access to IPOs that are otherwise unavailable to most individuals.

— Through whom is IPO participation carried out?
We operate through a U.S.-based structure that works with a licensed broker in the U.S. Our partner selects promising IPOs and participates in the offering under its own name.

— How is the deal structured legally?
An investor signs an agreement/offer to participate in the investment product. Regolith then transfers funds to its partner entity — Wealthy Labs Limited (the provider), which enters into a forward contract with the broker and executes all operational activities. The provider delivers the financial outcome to Regolith, which then distributes proceeds among investors.

— Is there a minimum investment amount?
Yes. Each IPO has a defined minimum entry threshold, shown on the offering page. On average, Regolith provides access starting from $500.

— Do I receive shares into my personal brokerage account?
No. Shares are purchased and held in the partner’s brokerage account. After the lock-up period, the broker sells the shares and transfers proceeds for distribution among investors.

— Can shares be transferred directly to my brokerage account?
No. Participation is structured via a forward contract with the partner’s brokerage infrastructure. The deal is executed on behalf of the partner, and settlements with investors are carried out through the platform.

— How can I sell my shares after the IPO?
Sales are processed automatically: once the lock-up expires, the partner broker sells the shares on the exchange, and proceeds are distributed proportionally among investors.

— What are the risks of investing in IPOs?
IPOs are high-risk investments. While they may offer high returns, they also carry significant volatility. Share prices on the first trading day — and after the lock-up — can fluctuate sharply. There is a risk that the market price will fall below the offering price. In addition, macroeconomic and sector-specific factors can affect outcomes.

— Can I know in advance how much I will earn?
IPO returns are not guaranteed. The final result depends on the share price at the time of sale after the lock-up, overall market conditions, and the company’s performance.

— How can I verify that Regolith participates in IPOs?
We publish all available deal information in the client dashboard. Additionally, we provide an agreement disclosing the infrastructure used for transactions. Broker and partner documents are not shared, as they contain confidential data protected by contractual obligations.