In quick succession, two Singapore-based companies just saw their attempts to go public via SPAC (special purpose acquisition company) mergers reach their logical conclusion.

  • On 15 March, FinAccel—the parent company of Indonesia-focused credit lending startup Kredivo—announced that it terminated terminated Reuters Lending platform Kredivo scraps $2.5 billion SPAC deal Read more its US$2.5 billion SPAC merger with US-based VPC Impact Acquisition Holdings II.
  • And on 18 March, property classified business PropertyGuru became a public company merged with Bridgetown 2, a blank check firm owned by Hong Kong tycoon Richard Li and PayPal co-founder Peter Thiel.

AUTHOR

Ka Kay Lum

Based in Kuala Lumpur, Ka Kay covers investment activities, aka following the money, across Southeast Asia and in-depth stories on the often-overlooked Malaysian startup ecosystem. She was previously a regional writer for Nikkei-owned DealStreetAsia.

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