Nightcap: What do SPACs and Square have in common?

Sky Harbour LLC is an aviation infrastructure company building the first nationwide network of Home-Basing solutions for business aircraft. The Company develops, leases and manages business aviation hangars across the United States based on its proprietary targeting and acquisition model, targeting airfields with significant hangar supply and demand imbalances in the largest US markets. Sky Harbour hangar campuses feature exclusive private hangars and a full suite of dedicated services specifically designed for home-based aircraft. Benefits of the Sky Harbour Home-Basing model include security, efficiency of flight and maintenance operations, enhanced safety and complete privacy, all delivered in a beautiful, thoughtfully designed environment.

Kredivo provides customers instant credit financing for e-commerce and offline purchases, as well as personal loans, based on proprietary, AI-enabled real-time decisioning. With nearly 4 million approved customers today and a presence across eight of the top 10 e-commerce merchants in Indonesia, it is the largest and fastest growing buy now, pay later (BNPL) platform in Indonesia today, with plans to expand into regional markets such as Vietnam and Thailand in the near future. Kredivo serves a target segment that comprises the rapidly growing middle class of Indonesia, with interest rates that are amongst the lowest in the country, and an application and approval process that takes as little as two minutes.

Singapore-headquartered Grab posted first quarter sales of $507 million, which represents 39 percent growth year on year, as the super app continues its momentum for a public offering with the special purpose acquisition company (SPAC) Altimeter Growth Corp (AGC: $10.86).

“We are pleased with our progress toward becoming a publicly traded company, which we expect to occur in Q4 2021,” Grab Group CEO and Co-Founder Anthony Tan said in a press release Monday (Aug. 2).

“As we prepare to become a listed company, we’re sharing our first-ever quarterly financial results, and we continue to deliver strong growth, despite the ongoing impact of COVID-19,” Tan said in the release. “Southeast Asian consumers trust Grab to meet their everyday needs in a growing number of ways, and we are excited about the emerging growth opportunities we see in our grocery delivery and financial services offerings.”

First quarter results for 2021 showed record revenue of $216 million, with an EBITDA up by $233 million year on year. Grab and Altimeter Growth Corp. also filed a draft registration with the U.S. Securities and Exchange Commission (SEC). Gross merchandise value (GMV) went up 5 percent year on year to $3.6 billion.

Net loss was $652 million, compared to $771 million in Q1 2020. Spend per user, defined as GMV per monthly transacting users (MTU), increased by 31 percent year on year.