Sun. Jun 4th, 2023

By Stephen Nakrosis

Clean-check firm StoneBridge Acquisition Corp. stated it entered a enterprise mixture settlement that may see it take “Fintech-As-A-Service” firm DigiAsia public.

The deal will see the mixed firm, which shall be named DigiAsia, commerce on the Nasdaq Inventory Market underneath the ticker image FAAS, the businesses stated.

DigiAsia is an Indonesia-focused firm that “offers FaaS throughout digital wallets, utility invoice funds, banking-as-a-service, provide chain funds, remittances and dealing capital loans to retailers,” the businesses stated. DigiAsia stated it’s the unique Mastercard companion in Indonesia and added different key companions embrace Western Union, Starbucks, Garuda Indonesia and Bukalapak.

In accordance with the businesses, “all present shareholders together with Mastercard and Reliance Capital Administration will roll over 100% of their fairness.”

StoneBridge Acquisition initially filed for its preliminary public providing in February 2021. On the time, the corporate stated it was focusing its seek for goal companies in ecommerce, fintech, Software program as a Service, renewable power and data expertise and IT enabled providers.

The deal is predicted to shut within the second quarter.

Write to Stephen Nakrosis at [email protected]

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