FinAccel, the parent of P2P lender Kredivo, plans to merge with a SPAC owned by Victory Park Capital, at an expected post-merger valuation of $2.5 billion. The merger will provide an interesting barometer for the appetite for fintech in the region, specifically BNPL, which has become Kredivo’s main growth driver.
Listed BNPL players in more developed markets (Zip, OpenPay, Splitit, and Sezzle to name a few) have seen considerable selling pressure lately as growth has disappointed and concerns over increased scrutiny from regulators has reared its head. Yet, can Kredivo buck the trend?