Wealthfront Corp., the digital-first wealth management platform, announced Monday it has confidentially filed for an initial public offering, signaling a fresh push toward Wall Street just as tech IPOs show signs of renewed life.
The robo-adviser, known for helping tech-savvy millennials and Gen Z professionals manage investments and savings with automated tools, said in a statement that the number of shares and pricing range remain undetermined.
The IPO is expected to launch following a review by the U.S. Securities and Exchange Commission (SEC), and will hinge on market conditions, Wealthfront said.
A Stealthy Entry Into Public Markets
The confidential filing allows Wealthfront to keep financial and operational details under wraps for now. Under securities law, companies can privately submit IPO registration documents to the SEC and only go public at least 15 days before launching their roadshow — a strategy that shields them from premature scrutiny by competitors.
“The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions,” the company said in Monday’s release.
This move comes as a wave of fintech and crypto startups — including Circle Internet Group Inc., Chime Financial Inc., and Navan (formerly TripActions) — are revitalizing an IPO market that had languished since the tech selloffs of 2022.
