Canadian-born Hollywood star Ryan Reynolds has invested in Nuvei, a Montreal-based fintech company. The amount of Reynolds’ investment in Nuvei has not been disclosed. Reynolds has previously invested in other Canadian companies, including Wealthsimple and 1Password.
Nuvei is a global payments company that offers services such as card-issuing, banking, and risk and fraud management. It went public in the US in 2021 and trades on Nasdaq under the ticker NVEI. While the Reynolds announcement didn’t send the company’s stock into the stratosphere, its share prices are up more than 66% year to date.
Reynolds’ investment in Nuvei was made in part due to Canadian pride and the desire to showcase a Canadian success story. “America gets a lot of credit for innovation, and I think there’s something quite funny and interesting and a fun story to tell about Canada flexing a little bit. This is already a multibillion-dollar global company with an amazing story to tell, and I look at these guys who are running it, and that’s a huge part of it for me,” Reynolds explained in a joint appearance on CNBC with Nuvei CEO Phil Fayer.
Reynolds, who is well-known for his roles in movies such as Deadpool, Free Guy, and Detective Pikachu, has emerged as a prolific investor in recent years. In addition to Nuvei, he has invested in Wealthsimple, 1Password, and Aviation American Gin. Reynolds has a diverse portfolio of investments and business ventures, including film production and ownership of the Wrexham Football Club.
Just a few weeks after making a considerable profit from the sale of Mint Mobile to T-Mobile for $1.35 billion, Hollywood star Ryan Reynolds has invested in Canadian fintech company Nuvei. Reynolds has also submitted a bid for the Ottawa Senators of the National Hockey League and is preparing to film Deadpool 3 in the coming months.
Nuvei, which was first founded in 2003 as Pivotal Payments, has been around for decades. The company offers services to businesses of all sizes in over 200 markets around the world. Its services include processing payments, handling fraud and risk management, and providing banking solutions.
Nuvei CEO Phil Fayer expressed his excitement about Reynolds’ investment in the company. “Ryan is a visionary entrepreneur and entertainer who has been able to channel his talent into building successful brands that people around the world love,” Fayer said in a statement. “We look forward to working with Ryan to drive Nuvei’s growth and expand our reach even further.”
Reynolds and Fayer recently appeared in a humorous video on Twitter in which they joked about not building a rocket, in an apparent jab at Elon Musk. While Reynolds is not building rockets, his investment in Nuvei is a testament to his entrepreneurial spirit and his belief in Canadian innovation.
