In an interview last year with Karen Webster, Paytm President Madhur Deora said that “compared to where we were around the time of demonetization, in terms of scale, we are probably 15 times bigger than we were then. That's not too bad.”Īnd elsewhere in Asia, South Korean payments startup Kakao Pay - which operates as a division of Kakao Corp - may reportedly raise as much as $1.4 billion USD equivalent in an initial public offering in that country. Kakao Pay, which is focused on payments, money transfers, e-documents and authentications, now has more than 36 million registered users that transacted some 67 trillion won in 2020. Turning to SPAC activity, as reported by Renaissance Capital, Pomona Acquisition, a blank-check company based in Hong Kong that targets FinTech in Asia, will look to raise $50 million in an initial public offering.
In other SPAC-related news, RichSpace Acquisition, described by Renaissance Capital as a blank-check company targeting FinTech and blockchain, has filed with the Securities and Exchange Commission to raise up to $40 million through an IPO.Īs for the volatility seen in new and pending listings from Chinese firms, TikTok owner ByteDance has “put on hold indefinitely” its intentions to list shares outside of China, according to news reports on Monday (July 12). And several other companies in China have decided not to move forward with their U.S. That roster includes the medical data firm LinkDoc Technology and the fitness app Keep.
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