Qupital secures Series B2 funding to fuel market expansion and product innovation
- Written by Telegraph Magazine
HONG KONG SAR - Media OutReach Newswire - 25 January 2024 - Qupital, Asia's leading data-driven financing platform for SMEs in the new economy, today announced its new Series B2 financing round funded by a consortium of new and existing investors from Hong Kong and Southeast Asia.
The fresh capital injection will be instrumental in scaling its securitisation facility backed by Citi, which supports its rapidly growing e-commerce loan portfolio.
Since 2016, Qupital has demonstrated market leadership across the trade finance industry with over US$2 billion total loans disbursed. It has continued to innovate its product offerings and increase market penetration, covering both import and export cross-border e-commerce financing sectors. Moving beyond traditional underwriting methods that emphasize collateral based lending, Qupital's proprietary credit model harnesses the power of big data and unlocks the value of inventory, providing e-commerce merchants immediate access to timely and affordable working capital.
"This financing round fully reflects our investors' confidence in Qupital as the leader of the trade finance industry. It also validates Qupital's mission to enhance financial inclusion for small and medium enterprises in this new era of digital economy," said Andy Chan, Co-founder and President of Qupital. "In addition to serving the blue ocean of cross-border e-commerce, with a robust yet diverse e-commerce loan portfolio that has a notably low default rate, Qupital offers an attractive alternative asset to professional investors, which has low correlation with other asset classes while empowered by big data and advanced technologies."
With this new round of funding, Qupital is poised to seize the vast growth opportunities brought by the ever-vibrant e-commerce landscape comprised of rising stars like Temu, TikTok, Douyin, JD.com and Pinduoduo etc. While the company is committed to drive its core financing business to new heights, with confidence in its performance track record, it will also prepare for public note issuance as a pioneering asset class available to a wider range of investors in the near future.
Hashtag: #Qupital #fundraising #fintech #tradefinance #ecommerce #business #technologyhttps://www.qupital.com
The issuer is solely responsible for the content of this announcement.
About Qupital
Qupital is a Hong Kong based FinTech company that specializes in data-driven financing, primarily serving US and Europe-facing merchants in China selling on platforms like Amazon, eBay, Shopee, Lazada, as well as domestic merchants in China on JD.com, Tmall and Pinduoduo etc. To date, it has disbursed over US$2B since 2016 with a notably low default rate of below 0.1%, demonstrating industry-leading performance. Some of its high profile investors include Alibaba, Citi, Greater Bay Area Homeland Development Fund and the Hong Kong Government.
For more information, please visit: https://www.qupital.com/.
Media Enquiries
Qupital
Angie Kwong
Tel: (852) 3156 7554
E-mail: Angie.Kwong@qupital.com
