Robinhood / WonderFi 2026
Robinhood acquired WonderFi for $178M on May 13, 2026.
- Target
- WonderFi
- Acquirer
- Robinhood
- Deal value
- $178M
- Deal type
- Cash
- Announced
- May 13, 2026
- Sub-sector
- Crypto / Digital Assets
Transaction overview
- Robinhood announced the acquisition of WonderFi on May 13, 2025, for all-cash consideration of C$0.36 per common share.
- Total equity value is approximately C$250 million on a fully diluted, in-the-money basis.
- The price represents a 41% premium to WonderFi's May 12 closing price and a 71% premium to its 30-day VWAP.
- WonderFi operates two regulated crypto platforms in Canada, Bitbuy and Coinsquare, with more than C$2.1 billion in assets under custody.
- Robinhood intends to finance the purchase with cash on hand; no equity component is included.
- The deal is expected to close in H2 2025, subject to regulatory, court, and shareholder approvals.
- WonderFi's leadership team will remain with Robinhood Crypto post-close.
- Robinhood already employs more than 140 people in Canada, with a Toronto engineering hub established in 2024.
Strategic rationale
Robinhood acquires Canadian regulated crypto platform operating Bitbuy and Coinsquare with C$2.1B AUC to establish first material foothold in Canadian crypto.
Deal terms & multiples
Advisors on the transaction
Public reporting named the following firms as advisors to the parties in the transaction.
- Robinhood
- J.P. Morgan Securities (financial), Davies Ward Phillips & Vineberg (legal). WonderFi: FT Partners (financial), Canaccord Financial (fairness opinion), Origin Merchant Partners (fairness opinion to special committee), PowerOne Capital Markets (special advisor), Goodmans LLP (legal, special committee), Cassels Brock & Blackwell (legal), Mintz LLP (regulatory).
Frequently asked questions
How much is Robinhood paying for WonderFi?
Robinhood is paying C$0.36 per common share in cash, representing a total equity value of approximately C$250 million on a fully diluted, in-the-money basis.
What premium does the deal represent for WonderFi shareholders?
The price is a 41% premium to WonderFi's May 12, 2025 closing price and a 71% premium to its 30-day VWAP.
When is the Robinhood WonderFi deal expected to close?
The acquisition is expected to close in H2 2025, subject to regulatory, court, and shareholder approvals.
What platforms does WonderFi operate?
WonderFi operates Bitbuy and Coinsquare, described as two of Canada's longest-standing regulated crypto trading platforms.
Will WonderFi continue to operate after the acquisition?
Yes. WonderFi will continue operating its products after close, and its leadership team will remain as part of Robinhood Crypto.
Who advised Robinhood and WonderFi on the deal?
J.P. Morgan Securities advised Robinhood financially; FT Partners advised WonderFi, with Canaccord Financial and Origin Merchant Partners providing fairness opinions.
Sources
- newsroom.aboutrobinhood.com /robinhood-to-acquire-wonderfi/