Add-on Acquisition • Internet Software and Services

WonderFi Acquires Bitbuy

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

Acquisition Context

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.

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M&A Deal Summary
Date	January 4, 2022
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 Company

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 Overview 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 Context for Buyer	#
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	-

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

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