After rising to a record $4.9 billion on the back of a number of outlier deals in 2024, total global investment in wealthtech fell to a three-year low of $1.4 billion in 2025 despite steady deal volume year-over-year. The slowdown in investment likely reflects a combination of factors, fintech investors, particularly corporates, towards the red-hot Al sector. During H2'25, the largest wealthtech deal was the Toronto-based money management fintech Wealthsimple, which secured $538 million in an equity funding round co-led by Dragoneer Investment Group and GlC,36 while the other deal sizes were quite modest -— led by a growth investment in US-based turnkey asset management platform GeoWealth.38 Al was a dominant investment trend throughout 2025 — not only in fintech, but in the broader investment market. However, within the wealthtech sector, there was little movement on the use case front during H2'25. Instead, wealthtech investors focused primarily on higher-level Al concerns, such as determining how Al and agentic Al could change wealth management business models, where and how it could best be applied to drive operational efficiencies and back-end cost savings, and what organizational changes (e.g. data management, workforce training) would be needed to support Al adoption.