American Neobroker Robinhood expands its activities north of the border, as well as to the encryption sphere, announcing that the company has entered into an agreement on the acquisition of Wonderfi, a Canadian leader in digital products and services, for C $ 250 million ($ 179 million).
Wonderfi operates two of the longest adjustable Canadian-Coinsquare and Bitbuy encryption platforms-with more than $ 2.1 billion in dollars. The parties said Wonderfi’s proven leadership to attract reliable, innovative products to Canadian consumers will support Robinhood’s vision to build a global economic ecosystem.
Wonderfi will continue to operate its products after completion of the acquisition. In addition, the Wonderfi leadership team will remain as part of RobinHood Crypto, bringing experience providing a wide range of digital assets products to Canadian customers.
Wonderfi employees will participate in more than 140 Robinhood employees based in Canada. RobinHood founded his Canadian headquarters in Toronto in 2024 as a mechanical infrastructure hub, utilizing the deep team of Technological Talents of Canada.
Canada hosts one of the fastest growing encryption markets and the accessible, low -cost and safe platform of RobinHood will be based on Wonderfi’s mission and will bring millions of Canadians greater access to cryptographic transactions. Wonderfi’s technologies and products, including Bitbuy and Coinsquare, are highly aligned with Robinhood Crypto, with offers such as Crypto Trading, Staking and Custody.
Joann Kerbrat,
“Wonderfi has created a terrible family of brands serving beginners and advanced encryption users, making them an ideal partner to accelerate Robinhood’s mission to Canada.
Knowing widely about democratizing access to investment in the US, RobinHood said it brings vast experience with the escalation of innovative, accessible financial products to millions execution of transactions worldwide and intends to fund the cash market price.
Wonderfi’s president and chief executive said, Dean Skurka said,
“Wonderfi and RobinHood are united in our visions to make the encryption accessible and bring more people to the encryption space.
Bobby Halpern, Wonderfi Executive President, said,
“Through a long and focused effort, Wonderfi successfully created one of Canada’s largest registered encryption platforms.
RobinHood-Wonderfi Agreement Details
RobinHood will acquire all the issued and pending shares for C $ 0.36 per common share through a legal Business Columbia regulation plan. The All-Cash purchase price represents a total share of equity of about $ 250 million (US $ 179 million) in fully diluted, the last day before the day before the day the average transaction price (“VWAP”) of the common shares on that date.
The acquisition is expected to close in H2 2025, subject to the usual closing conditions, including approvals regulatory arrangements, approval and approval of the Court by Wonderfi shareholders.
JP Morgan Securities, LLC, has served as the sole financial adviser to Robinhood and Davies Ward Phillips & Vineberg LLP has acted as its legal adviser. The partners of Economic Technology (“FT Partners”) acted as Wonderfi’s financial adviser. Canaccord Financial has given the opinion of justice to Wonderfi. Merchant Origin partners provided justice to the Wonderfi Special Committee. Powerone Capital Markets Limited acted as a Wonderfi Special Advisor. Goodmans LLP acted as a legal adviser to the Wonderfi Special Committee. Cassels Brock & Blackwell LLP acted as a legal adviser to Wonderfi and Mintz LLP acted as its regulatory adviser.