Peter Thiel and Richard Li-backed Bridgetown Holdings is in the final stages of talks to merge with Hong Kong-based Hyphen Group, a financial technology company.
The
deal, valued at a few hundred million dollars and anticipated to
include a private investment in public equity (PIPE) supported by
institutional investors, might be disclosed this month.
- Bridgetown,
a partnership between Thiel Capital and Pacific Century Group, raised
$595M in a U.S. initial public offering in 2020.
- With Goldman
Sachs, Hyphen has been discussing funding alternatives, such as a
particular purpose acquisition company (SPAC) or private fundraising.
- Pacific
Century, Alibaba Group, Goldman Sachs, International Finance Corp., and
Experian Plc. are some of the fintech firm's supporters.
- In
regions including Hong Kong, Malaysia, the Philippines, Singapore, and
Taiwan, Hyphen has over 10 million monthly users and provides comparison
tools for financial services.
