Hyphen Group, a Hong Kong-based fintech firm, is said to be in merger talks with Bridgetown Holdings, a U.S.-listed special purpose acquisition company (SPAC) jointly owned by PCCW and backed by billionaires Peter Thiel and Richard Li.
In November 2022, PCCW was the lead investor in Hyphen’s US$20 million funding round where the group contributed US$11.4 million to the sum.
The merger could value the combined entity at a few hundred million dollars as well as include a private investment in public equity (PIPE) from institutional investors.
Bloomberg reported that the companies are hashing out the final details of the merger where the due diligence has been conducted. The official announcement could be released as early as this month.
Formerly known as CompareAsiaGroup, Hyphen provides comparison of over 1,500 financial products to more than 10 million monthly users in 5 markets including Hong Kong, Malaysia, the Philippines, Singapore and Taiwan.
