VPC Impact Acquisition Holdings II announced that it has entered into subscription agreements with certain investors for a private placement of 12,000,000 class A American depositary shares at a price of $10 per share for gross proceeds of $120,000,000, and a term sheet with existing investors for a private placement of convertible notes for gross proceeds of $55,000,000, for aggregate gross proceeds of $175,000,000 on August 2, 2021. The depositary shares transaction will be co-led by new investors Victory Park Capital Advisors, LLC and its limited partners for $30,000,000, Marshall Wace LLP, Corbin Capital Partners, L.P., Palantir Technologies Inc., and SV Investment Corporation, and convertible notes will include participation from existing investors Naver Financial Corporation and Square Peg Capital Pty. Ltd. The class A American depositary shares represent class A common shares of the company.

The company will issue securities in reliance on the exemption from registration requirements provided by Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. The transaction is expected to close no later than the first quarter of 2022.