PayPal buying Vancouver-founded Hyperwallet for US$400m
The latest deal is the second high-profile acquisition of a B.C. company PayPal has made since last year
By Tyler Orton | June 21, 2018
A financial technology company that traces its roots to Vancouver has found a buyer willing to dig deep into its own wallet.
PayPal Holdings, Inc. (NASDAQ: PYPL) is acquiring Hyperwallet Systems Inc. for US$400 million.
Hyperwallet’s platform specializes in helping businesses manage payments to freelancers and contractors.
The company was founded in Vancouver, where it maintains two offices.
Since its launch in 2000 the fintech has moved more of its presence to the U.S.
Most of its executive team, including CEO Brent Warrington, is based in Austin, Texas.
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https://biv.com/article/2018/06/paypal-buying-vancouver-founded-hyperwallet-us400m
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