Fintech platform Seamless Group has completed its previously announced $400m merger with INFINT Acquisition, a special purpose acquisition company (SPAC).
Following the closing of the deal, the combined company will operate as CURRENC Group, and its ordinary shares will trade on the Nasdaq Stock Market.
The entity will be led by Seamless CEO Ronnie Ka Wah Hui, Seamless founder and board executive chairman Alexander King Ong Kong and Seamless chief financial officer Hagay Ravid in their respective positions.
Announced in 2022, the transaction was aimed at providing Seamless with the capital to expedite its mission to become the leading Asia fintech platform offering cross-border digital remittances and cashless payment solutions.
INFINT Acquisition CEO Alexander Edgarov said: “The INFINT team is excited to have successfully completed this business combination with Seamless.
“We are eager to see Alex, Ronnie and the team at CURRENC Group successfully execute their long-term operational and strategic objectives, building value for shareholders and stakeholders alike as they continue to develop a global fintech banking platform.”
Seamless is engaged in delivering a global fintech banking platform for e-wallets, financial institutions, and merchants across the world. The firm offers frictionless real-time, cost-efficient fund transfers.
The fintech platform’s advanced digital ecosystem enables millions of smart consumers and businesses to succeed in more than 150 countries.
Additionally, Seamless delivers global financial inclusivity for the unbanked and migrant workers in South East Asia.
The company’s solutions include the cross-border payment hub Tranglo and the fintech application WalletKu. Tranglo offers smart services for airtime top-ups, foreign remittance and business payments.
WalletKu is focused on empowering Indonesian micro, small, and medium enterprises to develop digital selling businesses.
Ka Wah Hui said: “The listing on the Nasdaq Stock Market LLC enables CURRENC to aggressively build its image, develop new markets and expand our network to seek to become one of the leading remittance hubs globally.
“We are thankful for the INFINT team’s continued collaboration, support, and conviction throughout the transaction process.”
