SINGAPORE/JAKARTA -- Indonesian digital consumer credit platform FinAccel is scrapping its merger with Victory Park's second special purpose acquisition company (SPAC).
Both companies cited "unfavorable market conditions" and "process delays" as the reasons for pulling the plug on the SPAC deal, according to a statement on Monday. Victory Park Capital (VPC) will instead lead a $145 million private structured investment in Kredivo, a retail credit provider.
