Item 1.02. Termination of a Material Definitive Agreement.

On May 12, 2023, Fintech Ecosystem Development Corp. (the "Company") terminated that certain Business Combination Agreement dated as of September 9, 2022 (the "Rana Agreement") among the Company, Fama Financial Services, Inc., Rana Financial, Inc. ("Rana") and David Kretzmer, as the representative of the shareholders of Rana. The Rana Agreement was terminated with immediate effect pursuant to Section 9.01(h) of the Rana Agreement, which permits such termination if certain required financial statements (together with an unqualified report therein of the auditors of Rana and its subsidiaries, if applicable) are not delivered on or before the deadlines specified in the Rana Agreement.


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