Kredivo to Become a Publicly Traded Company via SPAC finsmes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finsmes.com Daily Mail and Mail on Sunday newspapers.
Aug 03 2021, 7:13 PM
August 03 2021, 1:31 AM
August 03 2021, 7:13 PM
(Bloomberg) FinAccel Pte, the parent company of Indonesian fintech startup Kredivo, agreed to go public in the U.S. through a merger with a blank-check firm that values the combined companies at $2.5 billion.
(Bloomberg) FinAccel Pte, the parent company of Indonesian fintech startup Kredivo, agreed to go public in the U.S. through a merger with a blank-check firm that values the combined companies at $2.5 billion.
FinAccel is merging with VPC Impact Acquisition Holdings II, a special purpose acquisition company sponsored by Chicago-based Victory Park Capital Advisors LLC, the companies said in a statement on Tuesday.
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 will also join the bid, contributing $55 million.
The merger is expected to close by the first quarter of 2022.
The other investors on Kredivo’s cap table include Mirae Asset, Jungle Ventures, Singtel Innov8, Telkomsel Indonesia, MDI Ventures, Cathay Innovation, DST Partners, and Kejora Intervest.
Indonesian BNPL giant Kredivo to go public via Spac merger finextra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finextra.com Daily Mail and Mail on Sunday newspapers.