Hyperwallet completes US$400M acquisition by PayPal

On November 15, 2018, Hyperwallet Systems Inc. ("Hyperwallet"), a leading global payout platform, announced that it has completed the process of its acquisition by PayPal Holdings, Inc. ("PayPal") for US$400 million. The acquisition will enhance PayPal’s payout capabilities and allow it to provide payment solutions to ecommerce platforms and marketplaces globally due to access to Hyperwallet’s localized, multi-currency payment distribution capabilities in over 200 markets.

Founded in Vancouver, British Columbia, and headquartered in San Francisco, California, Hyperwallet operates the award-winning technology platform and global financial network that provides brand-enhancing B2C and P2P services for hundreds of global corporations and financial institutions.

McCarthy Tétrault LLP advised Hyperwallet with a team led by David Frost that included Donovan Plomp (Labour and Employment) and Vincent Yip (Technology).