Ryan Reynolds Invests In Canadian FinTech Company
Actor, producer, and entrepreneur Ryan Reynolds has set his sights on the Canadian fintech sector, announcing on Monday that he has invested in Canadian global payments company Nuvei (Nasdaq: NVEI |TSX: NVEI).
The details of his stake in Nuvei were not publicly disclosed, but the company has said that Reynolds will be “significantly involved” in the brand’s creative push. Reynolds and the company shared videos referring to this involvement since it was announced on Monday.
Reynolds, who’s best known for his role as Deadpool, has also had some remarkable success as an entrepreneur. He previously had an ownership interest in American Aviation Gin, a Portland, Oregon-based gin company that was acquired by Diageo in 2020 for $610 million. He was also part-owner of Mint Mobile, a budget wireless provider that was acquired by telecom giant T-Mobile US for US$1.35 billion just last month.
The actor also took over Wrexham FC with actor Rob McElhenney in 2020, and has also invested in Canadian companies Wealthsimple in May 2021 and 1Password in January 2022.
“I know about as much about fintech as I did about gin or mobile a few years ago. But Nuvei is impressive,” Reynolds said. “The leadership team is exceedingly intelligent and hard-working and it’s about time a Canadian company got the type of attention American tech companies do.”
Nuvei Chair and CEO Phil Fayer said that they are “thrilled to welcome Ryan to the Nuvei family. We’re a global company but extremely proud of our Canadian roots and values, so to have one of the most internationally recognizable Canadians, as well as an entrepreneur with such renowned business acumen, join our investors is a privilege.”
The company recently acquired top B2B and integrated payments technology provider Paya earlier this year. The acquisition, which integrates both the technology and Paya’s experts into Nuvei, is expected to push Nuvei further into becoming a top technology provider in the global e-commerce, integrated payments and B2B space.
Nuvei last traded at $56.55 on the TSX.
Information for this briefing was found via The Globe And Mail, Reuters, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
