M&A Deal Summary

Affirm Acquires PayBright

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

Acquisition Highlights
  • This is Affirm’s 1st transaction in the Information Technology sector.
  • This is Affirm’s 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
Sellers(s) Canadian Business Growth Fund
Deal Type Add-on Acquisition
Deal Value 340M CAD

Target

PayBright

Toronto, Ontario, Canada
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

San Francisco, California, United States
Category Company
Founded 2012
Sector Financial Services
Employees2,171
Revenue 1.6B USD (2023)
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 incorporated 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

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

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

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2018
PE ASSETS 545M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 2 of 5
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Ontario) 2 of 4
Country (Canada) 2 of 5
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-28 LifeRaft

Halifax, Nova Scotia, Canada

LifeRaft is a security intelligence company that enables enterprises to comb the web to identify and monitor potential business and physical security threats. LifeRaft’s critical risk identification software, “Navigator”, provides an integrated suite of investigative features for use cases such as crisis management, critical infrastructure monitoring, executive protection, facility security, fraud prevention, location monitoring and threat detection. LifeRaft is based in Halifax, Nova Scotia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 Paystone

London, Ontario, Canada

Paystone is a provider of customer engagement solutions that helps merchants turn everyday transactions into meaningful interactions and opportunities for growth. Paystone was formed in 2009 and is based in London, Ontario.

Buy -
Mergr

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