Ryan Reynolds, the Hollywood star and entrepreneur, has announced his latest investment in Nuvei, a Canadian fintech company that provides payment solutions to online platforms. Reynolds, who recently sold his stake in Mint Mobile to T-Mobile for $1.3 billion, said he was impressed by Nuvei’s vision and leadership.
“I know about as much about fintech as I did about gin or mobile a few years ago. But Nuvei is impressive,” Reynolds said in a statement. “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.”
Reynolds also shared a short promotional video for Nuvei on his Twitter account, where he joked that the company will never build a rocket, unlike some other tech billionaires.
Nuvei offers payment services to platforms like Binance and DraftKings
Nuvei was founded in 2003 and is based in Montreal. The company offers payment services to online platforms in various sectors, such as e-commerce, gaming, sports betting, crypto, and travel. Some of its clients include Binance, the world’s largest crypto exchange, and DraftKings, the fantasy sports and betting platform.
Nuvei went public in September 2020 on the Toronto Stock Exchange, raising $700 million in the largest tech IPO in Canadian history. The company is now worth nearly $6 billion and operates in over 200 markets. According to its website, Nuvei processed over $43 billion in transactions in 2020.
Reynolds has a track record of successful investments
Reynolds is not only known for his acting roles in movies like Deadpool and Free Guy, but also for his savvy business acumen. He has invested in a diverse range of businesses over the last few years, from alcohol company Aviation Gin to budget mobile cell phone service Mint Mobile.
Reynolds sold Aviation Gin to Diageo for $610 million in 2020, making an estimated $275 million from the deal. He also made an estimated $300 million from selling Mint Mobile to T-Mobile in July 2021, after acquiring a 25% stake in the company in 2019. Reynolds helped grow Mint Mobile’s customer base and brand awareness through his marketing efforts, which often featured his signature humor and self-deprecation.
Reynolds’ other investments include Welsh soccer team Wrexham, which he bought with fellow actor Rob McElhenney in 2020, and his marketing firm Maximum Effort, which he founded in 2018.