Qupital bags Series B2 funding to fuel market expansion and product offerings
By Gloria Mathias
Qupital, a financing platform for SMEs in the new economy, has announced its new undisclosed 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 securitization facility backed by Citi, which supports its rapidly growing eCommerce loan portfolio.
Since 2016, Qupital has demonstrated market leadership across the trade finance industry, with over $2 billion in 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 emphasise collateral-based lending, Qupital’s proprietary credit model harnesses the power of big data and unlocks the value of inventory, providing eCommerce 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 the 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 a low correlation with other asset classes while being empowered by big data and advanced technologies.”
Qupital is a Hong Kong-based FinTech company that specialises in data-driven financing, primarily serving US and Europe-facing merchants in China. With this new round of funding, Qupital is poised to seize the growth opportunities brought by the ever-vibrant eCommerce landscape, comprised of rising stars like Temu, TikTok, Douyin, JD.com, Pinduoduo, etc. While the company is committed to driving 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 soon.
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February 23, 2024
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