M&A Deal Summary

Affirm Acquires PayBright

On December 3, 2020, Affirm, Inc. acquired information technology company PayBright from Canadian Business Growth Fund (CBGF) for 340M CAD

Acquisition Highlights
  • This is Affirm’s 1st transaction in the Information Technology sector.
  • This is Affirm’s 1st largest (disclosed) transaction.
  • This is Affirm’s 1st transaction in Canada.
  • This is Affirm’s 1st transaction in Ontario.

M&A Deal Summary

Date 2020-12-03
Target PayBright
Sector Information Technology
Buyer(s) Affirm, Inc.
Sellers(s) Canadian Business Growth Fund (CBGF)
Deal Type Add-on Acquisition
Deal Value 340M CAD

Target

PayBright

Toronto, Ontario, Canada
website
PayBright is a technology-enabled point-of-sale (“POS”) real-time consumer payments and lending platform. PayBright provides consumer financing for Canadian healthcare procedures that were not covered by insurance benefits. PayBright was founded in 2009 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

Affirm, Inc.

San Francisco, California, United States

website


Category Company
Founded 2012
SectorFinancial Services
Employees1,342
Revenue 510M USD (2020)
DESCRIPTION

Affirm is a financial technology provider looking to utilize technology to re-imagine and re-build core components of financial infrastructure from the ground up. Affirm was formed in 2012 and is based in San Francisco, California.


DEAL STATS #
Overall 3 of 4
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-27 Sweep, Inc.

San Francisco, California, United States

Sweep, Inc. is a developer of personal finance management app.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 Returnly Technologies, Inc.

San Francisco, California, United States

Returnly is a provider of digital return experiences and post-purchase payments for direct-to-consumer brands. Returnly takes the product return risk and offers merchants a turn-key solution around its financial technology that includes return management tools as well as hosted and fully brandable end-customer touchpoints like package tracking, online returns and exchanges, and Green Returns. Returnly is based in San Francisco, California.

Buy $300M

Seller(S) 1

SELLER

Canadian Business Growth Fund (CBGF)

Investor Investor

website


Category Growth Capital Firm
PE ASSETS 545M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-09 Pitch Perfect Software, Inc.

Halifax, Nova Scotia, Canada

Proposify's software as a service (SaaS) solution streamlines the process of creating, sending, tracking, and e-signing proposals, contracts, agreements, and other sales documents. Proposify helps sales teams scale their proposal process, and quickly create impressive, interactive sales documents that beat the competition. Proposify is based in Halifax, Nova Scotia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-29 Stephano Group Ltd.

Etobicoke, Ontario, Canada

Stephano Group is a manufacturer of cereal and granola products. The company produces and provides cold cereal, hot cereal, and cereal / nutritional bar products and snacks on a private label or co-manufactured basis. Stephano's ten production lines produce a range of breakfast and snack products which include Organic, Non-GMO, Gluten-Free, allergen-controlled, and Kosher-certified capabilities. Stephano Group is based in Etobicoke, Ontario.

Buy -