Currenc lands $1.5M bridge loan to fund its Animoca Brands takeover
What's the deal? Nasdaq-listed Currenc GroupDealroom has a profile for this one. Try Dealroom → signed a secured convertible bridge loan of US$1.5 million with Apex Innovation Global LimitedDealroom has a profile for this one. Try Dealroom → on September 20, 2026. The single-advance facility carries 1% annual interest and provides interim funding for Currenc's proposed acquisition of Animoca Brands.
Why now? The loan matures on the earlier of 18 months after drawdown or completion of the Animoca deal. That ties the financing directly to the acquisition timeline, giving Currenc short-term cash while the reverse takeover proceeds.
What's the endgame? Currenc, which operates out of Singapore, is pursuing a reverse takeover of Animoca Brands Corporation Limited. The move positions it within digital and innovation-focused financial services.
The fine print: Apex can convert the loan into ordinary shares at a variable price, capped at 19.99% to avoid a shareholder vote. The facility is subordinated to an existing loan from Moca ServicesDealroom has a profile for this one. Try Dealroom → and is backed by a first-ranking mortgage over 1,000,000 Currenc shares granted by Pine Mountain HoldingsDealroom has a profile for this one. Try Dealroom →.
The agreement also imposes collateral coverage of at least 166.67% of the outstanding amount, mandatory prepayment from future fundraising and asset disposals, and a limited personal guarantee from Alexander King Ong Kong.
What could go wrong? Currenc's financials are strained. It carries heavy losses, declining trailing revenue, and negative equity, which leaves little cushion if the Animoca deal stalls. The tightened capital structure raises the stakes on execution.
The signal: At US$1.5 million, this is a small, tactical raise — sitting in the lower half of comparable rounds. It reads less as a growth bet and more as a stopgap to keep a much larger acquisition alive.
Read more: tipranks.com
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