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Indonesian buy now, pay later platform Kredivo to go public via $2.5b SPAC merger

August 3, 2021 FinAccel, the parent company of Indonesian fintech lender Kredivo, has agreed to merge with US-based Victory Park Capital’s second blank cheque firm at a valuation of $2.5 billion. The transaction will give Kredivo proceeds of $430 million, including a private placement (PIPE) of $120 million led by Marshall Wace, Corbin Capital, SV Investment, Palantir Technologies, Maso Capital, and sponsor Victory Park Capital. FinAccel’s existing investors NAVER and Square Peg Capital wil...
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