Seamless Group, Inc. Completes Business Combination with INFINT Acquisition Corporation to Become a Publicly Traded Company
Seamless Group Inc., a prominent global fintech platform, has finalized its business combination with INFINT Acquisition , a special purpose acquisition company (SPAC). The newly formed entity, CURRENC Group Inc., will start trading on Nasdaq under the ticker symbol 'CURR' on September 3, 2024.
Leadership remains unchanged with Ronnie Ka Wah Hui, Alexander King Ong Kong, and Hagay Ravid continuing in their respective positions as CEO, Executive Chairman, and CFO. Ronnie Ka Wah Hui expressed confidence in the listing's potential to boost CURRENC's market expansion and image.
Alexander Edgarov, CEO of INFINT, lauded the completion of the transaction, highlighting the strategic value and future growth potential for CURRENC, aiming to become a leading global remittance hub.
Seamless Group Inc., una piattaforma fintech globale di spicco, ha finalizzato la sua combinazione aziendale con INFINT Acquisition, una società di acquisizione per scopi speciali (SPAC). L'entità recentemente formata, CURRENC Group Inc., inizierà a essere quotata su Nasdaq con il simbolo 'CURR' il 3 settembre 2024.
La leadership rimane invariata con Ronnie Ka Wah Hui, Alexander King Ong Kong e Hagay Ravid che continueranno nei loro rispettivi ruoli di CEO, Presidente Esecutivo e CFO. Ronnie Ka Wah Hui ha espresso fiducia nel potenziale della quotazione per aumentare l'espansione e l'immagine di CURRENC.
Alexander Edgarov, CEO di INFINT, ha elogiato il completamento della transazione, evidenziando il valore strategico e il potenziale di crescita futura di CURRENC, che mira a diventare un hub globale leader nelle rimesse.
Seamless Group Inc., una destacada plataforma fintech global, ha finalizado su combinación empresarial con INFINT Acquisition, una compañía de adquisición de propósito especial (SPAC). La entidad recién formada, CURRENC Group Inc., comenzará a cotizar en Nasdaq con el símbolo 'CURR' el 3 de septiembre de 2024.
El liderazgo permanece sin cambios con Ronnie Ka Wah Hui, Alexander King Ong Kong y Hagay Ravid continuando en sus respectivos cargos como CEO, Presidente Ejecutivo y CFO. Ronnie Ka Wah Hui expresó confianza en el potencial de la cotización para impulsar la expansión de mercado y la imagen de CURRENC.
Alexander Edgarov, CEO de INFINT, elogió la finalización de la transacción, destacando el valor estratégico y el potencial de crecimiento futuro de CURRENC, que aspira a convertirse en un centro de remesas global líder.
Seamless Group Inc., 저명한 글로벌 핀테크 플랫폼은 INFINT Acquisition(특수목적인수회사, SPAC)과의 사업 결합을 완료했습니다. 새로 형성된 단체인 CURRENC Group Inc.는 2024년 9월 3일에 'CURR'라는 종목 기호로 Nasdaq에서 거래를 시작할 예정입니다.
리더십은 변함없이 Ronnie Ka Wah Hui, Alexander King Ong Kong, Hagay Ravid가 각각 CEO, 집행 의장, CFO로 계속 활동합니다. Ronnie Ka Wah Hui는 상장으로 인해 CURRENC의 시장 확장과 이미지 향상 가능성에 대한 확신을 표현했습니다.
INFINT의 CEO인 Alexander Edgarov는 거래 완료를 칭찬하며, CURRENC의 전략적 가치와 미래 성장 가능성을 강조했습니다. CURRENC는 글로벌 송금 허브의 선두주자가 되는 것을 목표로 하고 있습니다.
Seamless Group Inc., une importante plateforme fintech mondiale, a finalisé sa combinaison d'entreprise avec INFINT Acquisition, une société d'acquisition à but spécial (SPAC). La nouvelle entité, CURRENC Group Inc., commencera à être cotée sur le Nasdaq sous le symbole 'CURR' le 3 septembre 2024.
La direction reste inchangée avec Ronnie Ka Wah Hui, Alexander King Ong Kong et Hagay Ravid continuant dans leurs postes respectifs de PDG, Président Exécutif et CFO. Ronnie Ka Wah Hui a exprimé sa confiance dans le potentiel de cette cotation pour renforcer l'expansion et l'image de CURRENC.
Alexander Edgarov, PDG d'INFINT, a salué l'achèvement de la transaction, mettant en avant la valeur stratégique et le potentiel de croissance future de CURRENC, qui vise à devenir un hub mondial de transfert d'argent de premier plan.
Seamless Group Inc., eine führende globale Fintech-Plattform, hat ihre Unternehmenszusammenführung mit INFINT Acquisition, einer Special Purpose Acquisition Company (SPAC), abgeschlossen. Die neu gegründete Einheit, CURRENC Group Inc., wird ab dem 3. September 2024 unter dem Börsensymbol 'CURR' an der Nasdaq gehandelt.
Die Führung bleibt unverändert, mit Ronnie Ka Wah Hui, Alexander King Ong Kong und Hagay Ravid in ihren jeweiligen Positionen als CEO, Exekutivchairman und CFO. Ronnie Ka Wah Hui äußerte Vertrauen in das Potenzial der Notierung, die Marktvergrößerung und das Image von CURRENC zu fördern.
Alexander Edgarov, CEO von INFINT, lobte den Abschluss der Transaktion und hob den strategischen Wert sowie das zukünftige Wachstumspotenzial von CURRENC hervor, das anstrebt, ein führendes globales Zentrum für Geldüberweisungen zu werden.
- Completed business combination with INFINT Acquisition
- Seamless Group to trade on Nasdaq under ticker 'CURR' starting September 3, 2024.
- Leadership continuity with CEO, Executive Chairman, and CFO remaining in their roles.
- Potential for market expansion and enhanced brand image post-listing.
- Strategic objective to become a leading global remittance hub.
- None.
Insights
The completion of Seamless Group's business combination with INFINT Acquisition marks a significant milestone in the fintech sector. Trading under the ticker "CURR" on Nasdaq, CURRENC Group Inc. is now positioned for enhanced visibility and potential access to capital markets. This move could accelerate growth and expansion plans, particularly in developing new markets and expanding their remittance network.
However, investors should note that SPACs often face challenges post-merger, including potential dilution and performance pressures. The success of CURRENC will largely depend on its ability to execute its strategic objectives and deliver on growth promises. While the public listing provides opportunities, it also brings increased scrutiny and regulatory requirements. Investors should closely monitor the company's financial performance and market adaptation in the coming quarters.
CURRENC's entry into the public market via SPAC merger reflects a growing trend in the fintech industry. This move positions the company to capitalize on the expanding global remittance market, estimated to reach
However, the remittance sector is highly competitive and subject to regulatory scrutiny. CURRENC's success will hinge on its ability to differentiate its services, expand its network efficiently and navigate complex international financial regulations. Investors should watch for key performance indicators such as transaction volume growth, user acquisition costs and regulatory compliance expenses in upcoming financial reports to gauge the company's progress and market position.
As CURRENC transitions to a public company, its technological infrastructure will be important for scaling operations and maintaining a competitive edge. The fintech sector is rapidly evolving, with blockchain, AI and mobile technologies reshaping traditional financial services. CURRENC's ability to integrate these technologies effectively could significantly impact its market position and operational efficiency.
Investors should look for details on CURRENC's tech stack, R&D investments and innovation roadmap in future communications. Key areas to monitor include cybersecurity measures, as financial platforms are prime targets for cyber attacks and the company's approach to data analytics for improving user experience and fraud prevention. The company's technological agility will be critical in adapting to changing regulatory landscapes and consumer preferences in the global remittance market.
~ CURRENC Stock to Trade on Nasdaq Under Ticker “CURR” ~
New York, NY, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Seamless Group Inc., a leading global fintech platform (“Seamless”), and INFINT Acquisition Corporation (“INFINT”) (NYSE: IFIN), a special purpose acquisition company, today announced the completion of the previously announced business combination (the “Business Combination”). Beginning Tuesday, September 3, 2024, the combined company will operate as CURRENC Group Inc. (“CURRENC”), and the ordinary shares will trade on The Nasdaq Stock Market LLC under the ticker symbol “CURR.”
Ronnie Ka Wah Hui, Chief Executive Officer of Seamless, Alexander King Ong Kong, the founder of Seamless and Executive Chairman of the Board, and Hagay Ravid, the Chief Financial Officer of Seamless, will continue to lead CURRENC in their respective positions.
Ronnie Ka Wah Hui, Chief Executive Officer of CURRENC, commented, “I am proud and honored by Seamless’ achievement of this significant milestone as we embark on our journey as a publicly traded company. 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.”
Alexander Edgarov, Chief Executive Officer of INFINT, added, “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.”
About Seamless Group Inc.
Seamless Group Inc. pioneers a global fintech banking platform for e-wallets, financial institutions and merchants worldwide, delivering frictionless real-time, cost efficient fund transfers. Seamless’ state-of-the-art digital ecosystem empowers millions of smart consumers and businesses to win in over 150 countries.
About INFINT Acquisition Corporation
INFINT Acquisition Corporation is a Special Purpose Acquisition Corporation (SPAC) company on a mission to bring the most promising financial technology company from North America, Asia, Latin America, Europe and Israel to the U.S. public market. As a result of the pandemic, the world is changing rapidly, and in unique, unexpected ways. Thanks to growth and investment in the global digital infrastructure, legal, healthcare, automotive, financial, and other fields are evolving at a faster rate than ever before. INFINT believes the greatest opportunities in the near future lie in the global fintech space and are looking forward to merging with an exceptional international fintech company.
Advisors
Greenberg Traurig, LLP is serving as U.S. legal counsel and Mourant is serving as Cayman Islands legal counsel to INFINT in the transaction. Nelson Mullins Riley & Scarborough LLP is serving as U.S. legal counsel and Maples Group is serving as Cayman Islands legal counsel to Seamless in the transaction.
Forward-Looking Statements
The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 with respect to the Business Combination and CURRENC following the Business Combination. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that investors of Seamless may not receive the same benefits as an investor in an underwritten public offering, (ii) the risk that CURRENC’s securities may experience a material price decline after the Business Combination, (iii) the risk of product liability or regulatory lawsuits or proceedings relating to Seamless’ or CURRENC’s business, (iv) the ability of CURRENC to comply with the continued listing standards of Nasdaq, (v) the ability to attract new partners, merchants and users and retain existing partners, merchants and users in order to continue to expand, (vi) the ability of CURRENC to fund its capital requirements through additional debt and equity financing under commercially reasonable terms and the risk of shareholding dilution as a result of additional capital raising, if applicable, (vii) the risk of cyber security or foreign exchange losses, (viii) the risk that CURRENC is unable to secure or protect its intellectual property, (ix) failure to maintain an effective system of internal control over financial reporting and to accurately and timely report CURRENC’s financial condition, results of operations or cash flows, and (x) those factors discussed in INFINT’s filings with the SEC and that are contained in the proxy statement relating to the Business Combination. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the proxy statement and other documents to be filed by CURRENC from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while Seamless and INFINT may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Neither Seamless nor INFINT gives any assurance that Seamless and INFINT will achieve their respective expectations.
Investor Contact
Takis Wong
+852-3951-6228
investors@seamlessgroup.com
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