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 Corp. (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
Employees100
Revenue 28M CAD (2023)
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's executive team and Board of Directors have an established track record in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital and Hut 8. WonderFi's core team of engineers and technologists believe that everyone should have equal access to finance, and are aligned in the mission to empower people around the world to access DeFi in a simple, smart and secure way. WonderFi is based in Vancouver, British Columbia.

DEAL STATS #
Overall 1 of 2
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Ontario) 1 of 2
Country (Canada) 1 of 2
Year (2022) 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.

Buy -
Mergr

Product

Company

Legal