WonderFi Ecosystem Records Strong User Base Growth

WonderFi Technologies Inc (NEO:WNDR)(OTC:WONDF), a technology company that gives individuals access to financial services through DeFi has for mission to make the DeFi world more accessible and improve the user experience.

WonderFi is seeing fast growth across its ecosystem, reporting a total of over 600,000 users as of February 28. The Bitbuy acquisition brings 389,000 additional registered users to the ecosystem. Bitbuy saw a 58% increase in new user registrations in Q4 2021 compared to Q3 2021. The WonderFi app, which was successfully launched on January 25, 2022, has since had over 25,000 unique visitors. In addition, the average number of daily registrations has continued to grow since the initial launch, with a 423% increase week over week.

“Within a very short timeframe we have achieved over half a million users and we are focused on offering a diverse set of high quality products to those users. The strong synergies between CeFi, DeFi, gaming and NFTs provide us with a tremendous opportunity to continue to grow our user base and increase the value of the WonderFi ecosystem.” said WonderFi CEO Ben Samaroo.

On February 24, WonderFi launched WonderFi Interactive Inc. This new division expands WonderFi‘s in-game product offering for winning games and NFTs and will provide a new on-ramp for users in the WonderFi ecosystem. As part of the launch, WonderFi has entered into a binding letter of intent to acquire all of the issued and outstanding shares of Sun Machine Entertainment Inc, an industry-leading game development studio. The launch of WonderFi Interactive brings the Go Big! gaming franchise under the WonderFi umbrella with over 200,000 users on iOS and Android. NFT support will be added to the WonderFi app in 2022 to bridge gaming and crypto after the Sun Machine acquisition closes. New games will be developed in 2022 to bring more gamers into the WonderFi ecosystem.

Earlier in February, WonderFi appointed John Rim as the company’s chief financial officer. Former WonderFi CFO Steven Krause continues to work with the company as an advisor. John has nearly 25 years of experience as a business executive in various finance and leadership roles across multiple industries, including the cryptocurrency industry. He previously served as Chief Financial Officer at NASDAQ-listed Bitfarms Ltd. John helped lay the foundation for Bitfarms to become one of the world’s largest publicly traded cryptocurrency mining companies.

On February 8, WonderFi announced that Kogan.com Limited will provide marketing support to WonderFi and Bitbuy as a key step towards user growth and international expansion. This partnership gives WonderFi reach to more than 3.3 million of active Kogan.com customers in Australia. Kogan.com previously agreed to provide marketing support for Bitbuy’s future launch in the Australian market. Kogan is one of the largest and most popular online retailers in Australia and New Zealand.

WonderFi Closes $45 Million Financing to Pursue Growth Initiatives

On February 4, WonderFi closed its “bought deal” public offering of units of the company for aggregate gross proceeds of $45 million. The offering consisted of the sale of 18.75 milion shares at a price of $2.40 per share. WonderFi intends to use the net proceeds of the offering to partially fund the purchase price of the company’s previously announced acquisition of First Ledger Corp., the parent company of Bitbuy Technologies Inc., to fund growth initiatives and for general corporate purposes.

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