- WonderFi Technologies (WNDR) has agreed to acquire Coinberry Limited in an all-stock deal
- Coinberry shareholders will receive 29,107,000 common shares of WonderFi
- Coinberry has become one of Canada’s leading crypto trading platforms with over $1 billion transacted to date
- The transaction will add over 220,000 users to the WonderFi ecosystem and over $100 million of assets under custody
- WonderFi is a leading technology company providing unified access to digital assets including crypto, DeFi, gaming and NFTs
- WonderFi Technologies Inc. (WNDR) opened trading at C$1.22 per share
WonderFi Technologies (WNDR) has agreed to acquire Coinberry Limited, a leading crypto-asset trading platform and a licensed crypto broker.
The announcement of the proposed acquisition comes shortly after the recent closing of WonderFi’s acquisition of Bitbuy, Canada’s first licensed crypto marketplace.
The transaction is valued at approximately $38.3 million in an all-stock deal and is expected to close in Q2 2022.
Ben Samaroo, CEO of WonderFi commented on the news.
“This acquisition further establishes WonderFi as a leader amongst crypto companies in Canada, and along with our acquisition of Bitbuy, establishes a great framework for our expansion into global markets in 2022. As we continue our consolidation of leading licensed crypto platforms, our user count, revenue and pool of talent continues to grow.”
WonderFi will house one of the largest communities of Web3 users in Canada.
Coinberry has become one of Canada’s leading crypto trading platforms with over $1 billion transacted to date.
Kevin O’Leary, a strategic investor in WonderFi commented,
“WonderFi’s management team continues to execute on accretive acquisitions and this is an extremely important one because it shows the speed and vision behind WonderFi’s plan”. “Compliant access to crypto is what matters and WonderFi has quickly established itself as a leader in Canada. Next stop, global.”
“We have a shared belief with WonderFi that providing our users with convenient access to crypto wealth building opportunities through a seamless integration and unified access to digital assets is the future and where we are positioning ourselves” commented Andrei Poliakov, CEO of Coinberry. “At Coinberry, we set out to build the global digital financial institution of the future and we are very happy to be joining the phenomenal WonderFi team to achieve this goal.”
Transaction benefits:
- Further solidifies WonderFi as a leader of licensed crypto trading platforms in Canada and internationally
- Adds one of Canada’s largest and most recognizable crypto trading platforms with a demonstrated history of revenue growth since its inception
- Presents numerous operational synergy and cost efficiency opportunities across WonderFi, Bitbuy and Coinberry via user base integration, cross-selling services and a combined global offering
- Immediately adds over 220,000 users to the WonderFi ecosystem and over $100 million of assets under custody
- Presents the ability to bring new features, offerings and functionality to an existing user base on the Bitbuy and Coinberry platforms
- Accelerates product development capabilities and scaling potential by adding over 50 staff including engineers and other personnel
Under the terms of the agreement, Coinberry shareholders will receive 29,107,000 common shares of WonderFi.
The transaction has been approved by the boards of directors of both WonderFi and Coinberry. The acquisition is expected to close in the second quarter of 2022 and is subject to approval by Coinberry shareholders and regulatory approvals.
WonderFi is a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms. WonderFi provides unified access to digital assets including crypto, DeFi, gaming and NFTs, in a compliant and regulated environment.
WonderFi Technologies Inc. (WNDR) opened trading at C$1.22 per share.
