PayPal agreed to buy Hyperwallet, a Canada-based payments provider, for $400 million in cash. 

Through its Braintree unit, PayPal already manages payments for Uber and Airbnb, as well as other online marketplaces. Braintree owns Venmo, a mobile payment app.As the graph above shows, PayPal’s revenue growth has accelerated over the last few quarters, thanks to the acquisition of Braintree. PayPal stock has risen 62.8% over the last 12 months.  This acquisition support's PayPal's thesis that marketplaces will be one of its biggest growth drivers. Hyperwallet is positioned as a marketplace payment solution and counts's Australian business and HomeAway as customers.