The corporate-backed consumer credit platform operator will get a Nasdaq listing from the transaction, which will include $120m in Pipe financing co-led by Palantir Technologies.

FinAccel, a Singapore-based consumer credit service backed by a range of corporate investors, agreed yesterday to a reverse merger with special purpose acquisition company VPC Impact Acquisition Holdings II.

The deal implies a pro forma equity valuation of roughly $2.5bn for the merged business, which will take the spot on the Nasdaq Capital Market acquired by VPC Impact II in a $225m initial public offering in March this year.

VPC Impact II is contributing $256m from its trust account…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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