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  6. WonderFi Acquires Bitbuy

M&A Deal Summary

WonderFi Acquires Bitbuy

On January 4, 2022, WonderFi acquired internet software and services company Bitbuy for 206M CAD

Acquisition Highlights
  • This is WonderFi’s 1st transaction in the Internet Software and Services sector.
  • This is WonderFi’s 0th largest (disclosed) transaction.
  • This is WonderFi’s 1st transaction in Canada.
  • This is WonderFi’s 1st transaction in Ontario.

M&A Deal Summary
Date 2022-01-04
Target Bitbuy
Sector Internet Software and Services
Buyer(s) WonderFi
Deal Type Add-on Acquisition
Deal Value 206M CAD
Advisor(s) Canaccord Genuity (Financial)
Wildeboer Dellelce (Legal)

Target

Bitbuy

Toronto, Ontario, Canada
Bitbuy is a digital asset marketplace and restricted dealer. Bitbuy's mission is to provide its clients the best global prices, the deepest liquidity, and the most digital asset products in Canada with a convenient, dependable, and secure platform. Bitbuy is proudly registered as a restricted dealer and is Canada's first registered digital asset marketplace in Canada. Bitbuy's head office is in downtown Toronto, with over 85 employees. In addition to its registration as a Marketplace and Restricted Dealer, Bitbuy is also registered with FINTRAC as a Money Services Business under the Virtual Asset Service Provider category. Bitbuy was founded in 2016.

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Buyer(S) 1

Buyer

WonderFi

Vancouver, British Columbia, Canada
Category Company
Sector Internet Software and Services
Revenue 58M CAD (2024)
DESCRIPTION

WonderFi is a technology company with the mission of creating better access to DeFi through the core principles of simplicity and education. WonderFi has a multi-pronged business strategy which includes a high-growth consumer finance app which will serve as a trusted gateway to the new financial system, and a digital asset portfolio which consists of leading crypto and DeFi assets. WonderFi is based in Vancouver, British Columbia.

DEAL STATS #
Overall 1 of 2
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
State: Ontario M&A 1 of 2
Country: Canada M&A 1 of 2
Year: 2022 M&A 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Blockchain Foundry

Toronto, Ontario, Canada

Blockchain Foundry develops and commercializes blockchain-based business and consumer solutions, with a focus on infrastructure for digital assets and NFTs. BCF also provides blockchain consulting services to corporate clients. Blockchain Foundry was founded in 2016 and is based in Toronto, Ontario.

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