Ant-Backed Akulaku Mulls SPAC Merger at $2 Billion Value
- Online lender in talks with entrepreneur Patrick Grove’s SPAC
- Firm working with advisers for deal as soon as this year
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Akulaku Inc., an Indonesian online lender backed by Jack Ma’s Ant Group Co., is considering a U.S. listing via a merger with a blank-check company that could value the combined entity at about $2 billion, according to people with knowledge of the matter.
The fintech startup is working with advisers on a potential deal and is in early talks with Catcha Investment Corp., the special purpose acquisition company set up by internet entrepreneur Patrick Grove, said the people, who asked not to be named as the process is private. A merger with a blank-check company could take place as soon as this year, the people said.