back Back

Qupital bags Series B2 funding to fuel market expansion and product offerings

By Gloria Mathias

January 25, 2024

  • APAC Fintech news
  • Business Funding
  • eCommerce loan portfolio
Share

Qupital, Fintech News, Series B2 Funding, FinTech Funding, Fintech APAC, Fintech Hong Kong, 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.

 

Previous Article

January 25, 2024

Paymob, Mastercard team to boost digital payment acceptance in MENA

Read More
Next Article

January 25, 2024

Klarna enters subscription market with the launch of Klarna Plus in the US

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

APAC Fintech news

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 22, 2024

Vidyut raises $10m in Series A Funding round led by 3one4 Capital

Read More

February 21, 2024

Autonom8 & Berar Finance to automate Intelligent Loan Origination

Read More

February 21, 2024

Commerce Bank goes live with Temenos loan origination solution

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023