The Ohio-based private equity firm made a “major investment” in Reach to help it grow, launch new products and improve existing ones, the firm announced without disclosing the terms of the deal. In an email, Reach CEO Sam Ranieri said Primus is now a majority owner, and the firm’s 122-person team will stay on as part of the deal. (The Logic)
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The Ohio-based private equity firm made a “major investment” in Reach to help it grow, launch new products and improve existing ones, the firm announced without disclosing the terms of the deal. In an email, Reach CEO Sam Ranieri said Primus is now a majority owner, and the firm’s 122-person team will stay on as part of the deal. (The Logic)
Talking point: The deal suggests a revival in interest and investment in the Canadian fintech sector after a prolonged down market. Canadian fintech deals hit a record US$9.5 billion in 2024, a significant increase from the US$1.1 billion invested the previous year, according to a KPMG report released last week. Two private equity investments—Nuvei’s US$6.3-billion take-private deal and a US$1-billion investment into Montreal’s Plusgrade—accounted for the bulk of that total. Reach, which offers international payments software for businesses, raised $30 million in equity and debt in 2022.
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