Canadian brokerages Wealthsimple and Questrade announced they will let retail clients buy shares in companies before they list on an exchange. The service opens the door to U.S. and domestic initial public offerings the moment they price, expanding access that has traditionally been limited to institutional investors.

The move arrives as venture‑backed startups scramble for capital amid a surge in funding rounds. By packaging pre‑IPO allocations for ordinary investors, the platforms hope to capture fee revenue and deepen client engagement. Analysts note the shift could pressure traditional underwriters who rely on a narrow investor base.

Both firms plan to roll out the product within weeks, with compliance teams vetting each offering for suitability. Early adopters will likely be high‑net‑worth individuals seeking diversification beyond public markets. The rollout underscores a broader trend of fintechs democratizing capital markets, and investors now have a concrete path to participate in the next wave of growth companies.