1. Startup

Kredivo to Consider SPAC; Expecting "Go-Public" Testimony from Indonesian Tech Giants

There have been several startups announcing to go-public using the SPAC scheme

The fintech paylater company, Kredivo, is reportedly considering an option to go public on the New York stock exchange through SPAC. The company plans to partner with Victory Park Capital's unit, an investment company that also provided debt funding facilities to Kredivo worth $100 million in November 2020.

This news was first reported by DealStreetAsia. As we continue to follow up, Kredivo executives were reluctant to comment on the rumors.

From the existing funding rounds, Kredivo's current estimated valuation has reached $500 million. The ranks of investors include Singtel Innov8, Telkomsel Mitra Inovasi, MDI Ventures, Cathay Innovation, DST Partners, and Kejora Intervest.

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