Canadian fintech company buys Israel’s Simplex for USD 250 million
Canadian payment technology company Nuvei Corporation (TSX: NVEI has entered into a definitive agreement to acquire Israeli crypto start-up startup Simplex for USD 250 million cash.
According to IVC, the company has raised USD 18 million, mainly from private investors. This is the company’s second Israeli acquisition after buying online payment processing company SafeCharge from Teddy Sagi for USD 889 million in 2019.
Herzog advised the 2014-founded start-up which offers payment services for buying and selling Cryptocurrencies.
In a bumper payday in the cryptocurrency sector, Israeli fintech start-up Simplex was sold for USD 250 million to Canada’s Nuvei.
Herzog partners, Yair Geva and Yuval Zilber and associate Lior Katz represented Simplex in this deal.
Fasken acted as lead counsel for Nuvei.
