The Firm recently advised Sequoia on sale of its entire shareholding in CardUp to Funding Societies, Southeast Asia’s largest SME digital financing platform. This forms a part of Funding Societies’ acquisition of CardUp’s entire shareholding.
L&L Partners advised Sequoia on all aspects of the transaction including negotiating & finalisation of transaction documents.
The transaction was led by Partner, Nitin Gera and ably supported by Associate, Kartik Chatrath.
Pursuant to this move, the company will accordingly acquire CardUp’s commercial payments capabilities such as domestic and cross-border card payments to non-card accepting recipients, invoice automation tools, etc. CardUp’s payment services will complement Funding Societies’ existing lending products, to offer a united financial experience for customers across the region, enabling SMEs to manage and pay expenses, receive payments, and borrow funds all within one seamless digital platform.