Akulaku, an Indonesia-based online lender backed by China-based FinTech giant Ant Group, is considering a US listing via a merger with a blank-cheque company that could value the combined entity at about $2 billion, Bloomberg reported on Friday.

The FinTech startup is said to be working with advisers on a potential deal and is in early talks with Catcha Investment, the special purpose acquisition company set up by internet entrepreneur Patrick Grove, the newswire reported, quoting people familiar with knowledge of the matter. A merger with a blank-cheque company could take place as soon as this year, the people reportedly said.

Akulaku is currently seeking to raise $200 million to $300 million from a private funding round, they added.

Discussions are preliminary and could fall apart. The company could also decide to explore a combination with a different SPAC, the people said.

“Both parties have signed an exclusive relationship,” a person familiar with the matter told TechNode Global. Akulaku has yet to respond to TechNode Global‘s query while Grove declined to comment.

Akulaku could be joining a list of Southeast Asian tech companies that have agreed to go public in the US via SPAC mergers. They include Singapore’s online real estate marketplace PropertyGuru and FinAccel, the parent of Indonesian FinTech firm Kredivo. It was reported earlier this month that Singapore-based online classifieds platform Carousell is said to be in talks to go public through a merger with blank-check company L Catterton Asia Acquisition Corp.

Last month, Singapore-headquartered ride-hailing and payment giant Grab has started trading in the US stock market after a record $40-billion merger with Altimeter Growth Corp on NASDAQ.

Founded in 2014, Akulaku offers digital banking, consumer credit, digital investment, and insurance brokerage services in four major countries: Indonesia, Philippines, Vietnam, and Malaysia, according to its website.

Akulaku has raised $182 million from 2016 to 2018, according to earlier reports. Besides Ant Group, the company’s investors include Sequoia Capital, Qiming Ventures Partners, among others.

Singapore’s online classifieds platform Carousell in $1.5B SPAC deal talks with L Catterton – report