Payments & Fintech Acquisitions in Canada
Payments & Fintech M&A in Canada
Payments & Fintech M&A in Canada covers recent transactions where global platforms, challengers and financial sponsors acquire Canadian payments and fintech capabilities. Entries range from strategic tuck-ins and growth investments to large buyouts, and include buyers that seek regulated platforms, processing scale and developer infrastructure.
Transactions repeatedly target wallet and on-/off-ramp infrastructure, card-present and SoftPOS technology, instant-pay and mobile banking, onboarding and KYC, and merchant-of-record or processing scale. Activity is concentrated in provinces such as Ontario and British Columbia, with notable deals also in Alberta and Quebec, and involves names like Robinhood, Fiserv, Polygon Labs, Advent International and Battery Ventures.
What Stands Out
- Cross-border expansion: international strategics and challengers (for example Robinhood, Paynt, Polygon Labs, Fiserv) are acquiring Canadian platforms and licences to enter or scale in Canada.
- Capability consolidation: buyers are adding wallets/developer tooling, fiat on-/off-ramps, regulated trading platforms, card-present and SoftPOS software, instant-pay/mobile banking and onboarding/KYC capabilities (examples include Sequence/Coinme, Amadis, Payfare, Agreement Express).
- Private capital and growth investments: private equity and growth investors such as Advent International, Battery Ventures and Primus Capital are active across large buyouts and strategic growth financings (notably Advent International’s agreed acquisition of Nuvei for ~US$6.3B).
- Provincial clustering: deal activity shows frequent listings in Ontario and British Columbia, with additional transactions in Alberta and Quebec.
- Deal scale varies: transactions range from asset and tuck-in acquisitions and strategic growth investments to multi‑hundred‑million and multi‑billion buyouts (e.g., the CA$250M acquisition by Robinhood and the ~US$6.3B Nuvei buyout).
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March 13, 2026
- Buyer
- Royal Bank of Canada
- Target
- Pinch Financial Incorporated
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Royal Bank of Canada (RBC) announced it has acquired Toronto-based fintech Pinch Financial Incorporated, which provides mortgage qualification technology to streamline the home loan application process for Canadians. RBC plans to integrate Pinch’s digital platform to accelerate its digital mortgage strategy, enabling faster approvals and a more transparent, seamless qualification experience.
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February 4, 2026
- Buyer
- Lightyear Capital
- Target
- PayByPhone
- Seller
- Corpay
- Industry
- Payments & Fintech
- Location
- British Columbia, Canada
- Type
- Buyout
Lightyear Capital has signed an agreement to acquire PayByPhone, a global provider of mobile parking payments and parking management software, from Corpay. The deal is expected to close in the second quarter of 2026, subject to regulatory approvals, and PayByPhone will operate as a stand-alone independent business under Lightyear’s ownership.
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June 11, 2025
- Buyer
- Paynt
- Target
- E-xact Transactions
- Industry
- Payments & Fintech
- Location
- British Columbia, Canada
- Type
- Buyout
European payment technology company Paynt has acquired Canada-based E-xact Transactions to accelerate its North American expansion. The deal gives Paynt an operational hub in Vancouver and access to E-xact’s processing volume (over CAD 3.5 billion annually across ~50 million transactions); Paynt also appointed payments veteran JohnPaul Golino to its board to lead integration and go-to-market in the region.
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- Buyer
- Robinhood
- Target
- WonderFi
- Industry
- Payments & Fintech
- Location
- British Columbia, Canada
- Type
- Buyout
Robinhood is acquiring Canada-based crypto trading platform WonderFi in an all-cash deal valued at approximately $178.56 million (CA$250 million). The acquisition gives Robinhood access to WonderFi’s regulated platforms (Bitbuy and Coinsquare), more than 1.6 million registered Canadian users and roughly C$1 billion in assets under custody, accelerating Robinhood’s expansion into Canada.
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- Buyer
- Nomba
- Target
- Licensed Payment Service Provider and Money Services Business in Canada (unnamed)
- Industry
- Payments & Fintech
- Location
- Canada
- Type
- Buyout
Nigerian fintech Nomba acquired a licensed Payment Service Provider and Money Services Business in Canada, completing the deal in Q2 2025. The acquisition gives Nomba regulatory coverage to move Canadian-dollar (CAD) funds locally in Canada and connect CAD payment flows directly to African markets for B2B trade payments.
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March 3, 2025
- Buyer
- Fiserv, Inc.
- Target
- Payfare Inc.
- Industry
- Payments & Fintech
- Location
- Canada
- Type
- Buyout
Fiserv (via an affiliate, 1517452 B.C. Ltd.) has completed its previously announced acquisition of Payfare under a British Columbia plan of arrangement. The deal was designed to complement Fiserv’s embedded finance solutions with Payfare’s card program management and microservices orchestration capabilities.
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February 20, 2025
- Buyer
- Primus Capital
- Target
- Reach
- Industry
- Payments & Fintech
- Location
- Alberta, Canada
- Type
- Growth capital
Primus Capital has made a strategic growth investment in Reach, a Calgary-based Merchant of Record (MoR) provider. The capital will be used to scale operations, accelerate Reach's product roadmap (payments, tax compliance, and fraud protection) and expand its global entity network to support enterprise and mid-market merchants.
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- Buyer
- Shift4 Payments, Inc.
- Target
- Givex Corp.
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Givex has entered into a definitive arrangement agreement under which Shift4 will acquire all issued and outstanding shares of Givex in an all-cash deal. Under the terms, Givex shareholders will receive C$1.50 per share, implying an equity value of approximately C$200 million, with the transaction expected to close in November 2024 subject to customary conditions and approvals.
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April 1, 2024
- Buyer
- Advent International
- Target
- Nuvei Corporation
- Industry
- Payments & Fintech
- Location
- Quebec, Canada
- Type
- Buyout
Nuvei entered into a definitive arrangement agreement to be taken private by Advent International in an all-cash transaction valuing the payments company at approximately US$6.3 billion. Shareholders will receive US$34.00 per share, and the deal is expected to close in late 2024 or the first quarter of 2025.
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February 6, 2024
- Buyer
- Payroc WorldAccess, LLC
- Target
- SterlingCard Payment Solutions Inc.
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Payroc WorldAccess, LLC has acquired SterlingCard Payment Solutions Inc., a Markham, Ontario-based provider of card-present and payment solutions. The deal adds SterlingCard's team of 11 and card-present capabilities to Payroc's Canadian offering, complementing Payroc's existing card-not-present and ACH/PAD services and expanding its presence in Canada.
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January 22, 2024
- Buyer
- Objectway
- Target
- Nest Wealth
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Objectway, a global FinTech software and services provider, has acquired Nest Wealth, a Canadian digital wealth solutions provider. The acquisition expands Objectway's product capabilities in client onboarding and financial planning and accelerates its market presence across North America and EMEA.
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May 23, 2023
- Buyer
- Preludd Payment Services
- Target
- Amadis
- Industry
- Payments & Fintech
- Location
- Quebec, Canada
- Type
- Buyout
Preludd Payment Services has acquired Amadis, a provider of EMV card-present payment acceptance software and SoftPOS solutions, to broaden its payment platform capabilities and accelerate global expansion. The deal combines Preludd's cloud-based white-label gateway and POS management services with Amadis' EMV/SoftPOS software expertise to create a stronger global payments solutions provider.
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January 26, 2023
- Buyer
- Nav
- Target
- Nuula
- Seller
- Nuula
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Nav has acquired the assets of fintech app Nuula to accelerate mobile app development and expand its small-business financial-health platform. The asset purchase brings Nuula technology and team members into Nav to enhance cash-flow insights, credit information, and mobile financing features for SMBs.
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January 19, 2023
- Buyer
- Battery Ventures
- Target
- Ascendant (AscendantFX Capital Inc.)
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Growth capital
Battery Ventures has agreed to make a significant strategic investment in Ascendant (AscendantFX Capital Inc.), becoming the company's primary investor to accelerate product innovation, network expansion and growth. Ascendant, a Toronto-based cross-border payments fintech serving over 2,000 financial institutions and corporate customers, said the transaction is expected to close in H1 2023 subject to regulatory approval; Raymond James acted as Ascendant's exclusive financial advisor.
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December 6, 2022
- Buyer
- NMI
- Target
- Agreement Express
- Seller
- Agreement Express, Frontier Growth
- Industry
- Payments & Fintech
- Location
- British Columbia, Canada
- Type
- Divestiture
NMI has acquired the payments solutions business of Agreement Express, adding onboarding, underwriting, KYC/AML and risk monitoring capabilities to its commerce enablement platform. Frontier Growth will retain Agreement Express's wealth management arm; terms were not disclosed.
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December 1, 2022
- Buyer
- Komgo
- Target
- GlobalTrade Corporation (GTC)
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Swiss-headquartered Komgo has acquired GlobalTrade Corporation (GTC), combining their trade finance digitization platforms to create a larger, global offering for corporates and banks. The combined business will offer broader coverage and complementary capabilities across the full range of trade finance instruments and workflows.
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- Buyer
- Coinweb
- Target
- OnRamp Technologies Limited
- Industry
- Payments & Fintech
- Location
- Canada
- Type
- Buyout
Layer-2 blockchain platform Coinweb has acquired FINTRAC-registered OnRamp Technologies Limited, a Canadian money services business, to obtain Canadian fiat rails and MSB permissions. The acquisition enables Coinweb to offer virtual currency exchange and transfer services in Canada and supports the platform's regulated launch into North America.
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January 26, 2022
- Buyer
- Paystone
- Target
- Canadian Payment Services
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Paystone, a London, Ontario-based payments and customer engagement company, acquired Canadian Payment Services (CPS), a Canadian merchant services provider. The deal expands Paystone's merchant base and capabilities—adding CPS's ~10,000 merchants and enabling Paystone to offer its proprietary SaaS products and payment services to a larger Canadian footprint.
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January 4, 2022
- Buyer
- WonderFi Technologies Inc.
- Target
- Bitbuy Technologies Inc. (First Ledger Corp.)
- Seller
- First Ledger Corp. (Bitbuy shareholders)
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
WonderFi Technologies Inc. has entered into a definitive agreement to acquire First Ledger Corp., the parent of Bitbuy Technologies Inc., Canada's first approved crypto marketplace, in a transaction valued at approximately CAD $206 million. The deal (70 million WonderFi shares, $20M upfront cash and $30M vendor take-back note) adds over 375,000 users, CAD $455 million in assets under custody and more than 80 employees to WonderFi, expanding its licensed fiat on‑ramp, OTC capabilities and product suite.
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December 20, 2021
- Buyer
- OFX Group Limited (OFX)
- Target
- Firma Foreign Exchange Corporation (Firma)
- Industry
- Payments & Fintech
- Location
- Alberta, Canada
- Type
- Buyout
OFX Group Limited has agreed to acquire 100% of Canadian foreign exchange and payments provider Firma Foreign Exchange Corporation for C$90 million. The acquisition adds over 9,600 corporate clients, increases OFX's North America revenue substantially, and is expected to be accretive to EPS while delivering cost and revenue synergies.
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- Buyer
- Flexpoint Ford, BMO Capital Partners
- Target
- PayFacto Payments Inc.
- Industry
- Payments & Fintech
- Location
- Quebec, Canada
- Type
- Growth capital
Flexpoint Ford led an equity investment of up to C$150 million in PayFacto Payments Inc., with participation from BMO Capital Partners. The growth capital will fund PayFacto's U.S. expansion, product development (including a cloud-based POS), and future acquisitions to accelerate its payments and POS strategy.
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- Buyer
- Prophecy DeFi Inc.
- Target
- Layer2 Blockchain Inc.
- Seller
- Shareholders of Layer2 Blockchain Inc.
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Prophecy DeFi Inc. completed the acquisition of 60% of the issued and outstanding common shares of Layer2 Blockchain Inc., issuing 25,000,000 Prophecy common shares to Layer2 shareholders as consideration. The majority stake gives Prophecy control to accelerate Layer2's DeFi operations — including liquidity provisioning, market making, cross-chain arbitrage and staking — as part of Prophecy's broader decentralized finance investment ecosystem.
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April 30, 2021
- Buyer
- goeasy Ltd.
- Target
- LendCare Holdings, Inc.
- Seller
- CIVC Partners, L.P.
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
goeasy Ltd. (TSX: GSY) has acquired LendCare Holdings, Inc. from CIVC Partners to expand its point-of-sale lending capabilities and broaden its near-prime product offering. The acquisition is intended to accelerate goeasy's growth in the Canadian consumer credit market by adding LendCare's merchant distribution network and origination technology.
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March 18, 2021
- Buyer
- Fattmerchant
- Target
- Fusebill
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Growth capital
Orlando-based payments provider Fattmerchant has made a strategic investment in Fusebill, an Ottawa-founded cloud subscription billing and payments platform. The partnership aims to combine Fusebill's subscription-billing capabilities with Fattmerchant's integrated payments stack to expand capabilities and drive international growth.
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December 3, 2020
- Buyer
- Affirm
- Target
- PayBright
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Affirm entered into a definitive agreement to acquire PayBright, one of Canada’s leading buy-now-pay-later providers, for approximately CAD $340 million. The acquisition expands Affirm’s presence in Canada by combining PayBright’s merchant relationships and local market expertise with Affirm’s U.S. pay-over-time platform.
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November 19, 2020
- Buyer
- Mogo Inc.
- Target
- Carta Solutions Holding Corporation (Carta Worldwide)
- Seller
- Carta's senior management, Carta's board members, Key outside shareholders
- Industry
- Payments & Fintech
- Location
- Canada
- Type
- Buyout
Mogo Inc. (TSX: MOGO; NASDAQ: MOGO) agreed to acquire Carta Solutions Holding Corporation (doing business as Carta Worldwide) in an all‑stock plan of arrangement to expand into the global B2B digital payments market. The acquisition — reported at about C$24.2 million — gives Mogo a payments technology platform and broadens its addressable market into global digital payments.
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February 21, 2020
- Buyer
- Great Hill Partners
- Target
- VersaPay Corporation
- Seller
- VersaPay shareholders
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Great Hill Partners, a Boston-based private equity firm, completed the acquisition of VersaPay Corporation by way of a statutory plan of arrangement, valuing VersaPay at approximately C$126 million (C$2.70 per share). The deal takes VersaPay private and positions the SaaS accounts-receivable and B2B payments platform to invest in product development and accelerate global expansion under Great Hill's ownership.
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April 4, 2017
- Buyer
- Deluxe Corporation
- Target
- RDM Corporation
- Seller
- Shareholders of RDM Corporation
- Industry
- Payments & Fintech
- Location
- Ontario, Canada
- Type
- Buyout
Deluxe Corporation (NYSE: DLX) has completed the acquisition of RDM Corporation, a Waterloo, Ontario–based provider of remote deposit capture (RDC) software, hardware and digital imaging solutions for financial institutions and corporate clients. The deal, which required shareholder and Canadian regulatory approval, strengthens Deluxe’s WAUSAU Financial Systems business by adding RDC and payment processing capabilities and expanding its treasury management product suite.
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Frequently Asked Questions
What types of buyers are most active in Canadian payments and fintech?
A mix of international strategic acquirers, challenger fintech entrants and financial sponsors. Recent buyers include global payments firms and platforms (Fiserv, NMI), fintech entrants (Robinhood, Polygon Labs, Paynt) and private equity or growth investors (Advent International, Battery Ventures, Primus Capital).
Which product or technology capabilities are buyers targeting?
Common targets are wallet and developer infrastructure, fiat on-/off‑ramps and money‑transmitter licences, regulated trading platforms, card-present/EMV and SoftPOS software, instant-pay and mobile banking features, onboarding/KYC and merchant-of-record or processing scale (examples: Sequence/Coinme, Amadis, Payfare, Agreement Express, Reach).
Are deals geographically concentrated within Canada?
Yes. Many recent transactions are located in Ontario and British Columbia; there is also activity in Alberta and Quebec. Major national plays and cross-border acquirers use these hubs for local operations and talent.
Do the transactions include large buyouts or mainly smaller tuck-ins?
Both. The record includes strategic tuck-ins and asset purchases as well as large buyouts and growth investments — from regional platform add-ons to the announced ~US$6.3B acquisition of Nuvei by Advent International and major market entries like Robinhood’s CA$250M purchase of WonderFi.