In today’s briefing:
- UOB: Better Relative Value
- Indian Home Decor Unicorn Livspace Slashes 100 Jobs
- Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo
UOB: Better Relative Value
- 4Q22 results release on 23rd February 2023.
- Expect NIM expansion of ~20bps quarter-on-quarter (QoQ) for 4Q22E, while FY23’s NIM guidance and updates on its Citi consumer business integration would be of focus.
- Citi acquisition to add to full year NIMs and growth prospects from FY23, despite potential uptick in asset quality risks, which should be manageable.
Indian Home Decor Unicorn Livspace Slashes 100 Jobs
- KKR-backed home decor unicorn Livspace said it has let go of 2% of its over 5,000-member workforce as it aims to hit profitability as early as this year.
- Founded in 2014, Livspace offers tech-enabled interior design and renovation services, positioning itself as the Amazon of home decor.
- One of its notable offerings is Canvas, a SaaS platform that lets designers engage with their customers.
Japanese Bank Mizuho Leads ~US$270M Series D Equity Round of Kredivo
- Kredivo Holdings (formerly FinAccel), the parent company of Kredivo and Krom Bank Indonesia, has closed its Series D equity round of funding at ~US$270 million.
- Founded in 2016, Kredivo is a leading player in the digital financial services industry. It provides customers with instant credit financing for e-commerce and offline purchases and personal loans based on proprietary, AI-enabled real-time decisions.
- The products include online and offline Buy Now, Pay Later, personal loans, credit cards (physical and virtual) and neobank Krom.
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