The acquisition of DragonLend complements GoLogiq’s existing fintech ecosystem, which encompasses a range of financial services, from payroll services to retirement investing.
“We see a strong industry logic in DragonLend’s fit into GoLogiq’s fintech ecosystem and fundraising capabilities. DragonLend has for a while been looking for a strategic partner that can help fund and scale its SME operations. This transaction is set to unlock great value for all sides and help propel DragonLend to its full potential”, says
“We now have assembled years of valuable data for our credit scoring model, which we can rely on for driving profitable growth. The SME-sector is the cornerstone of the Vietnamese economy and DragonLend is well positioned to support it”, says
“The acquisition of DragonLend would further our expansion into
Additional information around the proposed transaction
- Under the terms of the letter of intent,
GoLogiq will acquire 100% ofFram Venture 7 AB. The company anticipates closing the transaction over the coming months. - While the parties expect the transaction to be completed as anticipated, a definitive agreement has yet to be signed and no assurances can be given it will be executed or the transaction will be completed as described. Normally, Fram does not announce transactions at the earlier letter of intent stage, but in this process Fram is following the communication schedule of the acquirer.
GoLogiq recently announced a sale/reallocation of its fintech assets to Nasdaq-listed entity,Recruiter.com Group (NASDAQ:RCRT) (NASDAQ:RCRTW) (“Recruiter”), a recruiting solutions provider. If such sale is consummated prior to the closing date of GoLogiq’s acquisition ofFram Venture 7,GoLogiq intends to assign its rights in its purchase agreement to Recruiter, whereuponFram Venture 7 would become a subsidiary of Nasdaq-listed Recruiter and the transaction proceeds would instead be paid in form of Recruiter shares.
About DragonLend
DragonLend, a subsidiary of
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