News broke just last week that PayPal has agreed to acquire Hyperwallet Systems Inc. for $400 million.
We at Envisionit are excited to know PayPal is continuing to fortify its position as a leader in the world of online payment processing by adding another of our clients to its digital payments eco-system—a necessary step in the swiftly and ever-changing fintech landscape. In fact, from the moment we entered into the fintech arena, the acquisition rate of many of our fintech clients has moved at a fairly staggering clip. Consider the following:
- 2012: Braintree acquires Venmo for $26.2M
- 2014: PayPal acquires Braintree for $800M
- 2014: Worldpay acquires SecureNet for undisclosed
- 2017: Vantiv acquires Worldpay for $10.2B
- 2017: Avangate acquires 2Checkout for undisclosed
Having made 20 acquisitions over the past 20 years, and on the heels of it’s largest acquisition to date (Sweden’s iZettle for $2.2B), PayPal is showing no signs of slowing down. That aside, this recent acquisition of Hyperwallet will significantly enhance PayPal’s global payment capability—streamlining how businesses and workers transact—quickly, easily, and just the way they want —all around the world. Two strong global brands, one incredible partnership!
