Kredivo to Go-Public via SPAC, Aiming for 6.1 Trillion Rupiah Funding
Kredivo's valuation to reach $2.5 billion and become the next unicorn from Indonesia
Kredivo's parent company FinAccel, announced to become a public company on the NASDAQ through SPAC. Kredivo is to merge with VPC Impact Acquisition Holdings II (NASDAQ: VPCB) shell company, an affiliate of Victory Park Capital (VPC), a global investment firm provided credit facilities to Kredivo several times.
Both FinAccel and VPCB have entered a definitive agreement for merger and filed documents with the US Securities and Exchange Commission (SEC). VPCB alone has completed its IPO in March 2021.
With this merger, FinAccel will have a pro-forma equity valuation around $2.5 billion, assuming no redemption. FinAccel will be the next unicorn startup from Indonesia once the transaction is finalized.
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