HONG KONG SAR –\u00a0Media OutReach<\/a>\u00a0– 9 November 2021 – Asia’s leading financial technology platform Qupital<\/a>
\u00a0<\/p>\n The
\u00a0<\/p>\n Qupital
\u00a0<\/p>\n Series B round led by GBA Homeland Development Fund, joined by the ITVF of HKSAR Government<\/i><\/b><\/p>\n \u00a0<\/p>\n On
\u00a0<\/p>\n UK-based
\u00a0<\/p>\n The majority of funds raised
\u00a0<\/p>\n “This funding round reinstates the boundless synergy agglomerated in the region”, said Winston Wong, Co-Founder and Chief Executive Officer of Qupital<\/b>.
“As we aspire to
HONG KONG SAR –\u00a0Media OutReach\u00a0– 9 November 2021 – Asia’s leading financial technology platform Qupital
today announced it has raised US$150 million in a combination of Series
B equity funding and a receivables-backed securitization facility. The
equity funding will reinforce Qupital’s ambitions to scale its
cross-border e-commerce lending business into international markets and …<\/p>\n","protected":false},"author":1,"featured_media":18704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18703"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18703"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18704"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n today announced it has raised US$150 million in a combination of Series
\n B equity funding and a receivables-backed securitization facility. The
\nequity funding will reinforce Qupital’s ambitions to scale its
\ncross-border e-commerce lending business into international markets and
\nfurther strengthen its technological capabilities, whilst the facility
\nwill provide a lower cost of funding for Qupital to offer exclusive
\nproducts to its present and future clients. \u00a0<\/p>\n![](\"https:\/\/images.media-outreach.com\/Thumb\/500x0\/195631\/-DSC9860.jpg#image-195631\")
<\/p>\nQupital’s Co-Founder and President Andy Chan with Co-Founder and Chief Executive Officer Winston Wong (from left to right)<\/h5>\n
![](\"https:\/\/images.media-outreach.com\/Thumb\/500x0\/195638\/-DSC9823.jpg#image-195638\")
<\/p>\nQupital’s
\n ambition is to become the go-to digital financial institution for
\ne-commerce sellers trading across the globe in the New Economy.<\/h5>\n
\n securitization facility entered with global investment bank Citi,
\nsupported by Integrated Alternative Credit Fund, marks the first
\ne-commerce merchant financing securitization in Asia. This coincides
\nwith the closing of Qupital’s Series B round, led by the Greater Bay
\nArea Homeland Development Fund (GBA Homeland), with additional capital
\ninjections from investors including the Innovation and Technology
\nVenture Fund (ITVF) of the Hong Kong SAR Government, MindWorks Capital,
\nSilverhorn and Alibaba Entrepreneurs Fund.<\/p>\n
\nharnesses the power of sales data to streamline credit underwriting for
\nsellers on e-commerce platforms such as Amazon, eBay, Lazada and Shopee,
\n offering a win-win solution to both sellers and investors. The platform
\n empowers creditworthy merchants that are traditionally underserved in
\nthe commercial lending market, and hews out an alternative asset class
\nwith attractive yield opportunities for both professional and
\ninstitutional investors. As of October 2021, Qupital has achieved over
\nUS$500 million in loan advancement to some 7,000 merchants onboarded on
\nits digital platform, tracking an annualized gross merchandise value
\n(GMV) of over US$3 billion.<\/p>\n
\n top of the Series B funding, Qupital’s strategic placement within the
\nGBA Homeland portfolio more importantly reflects the depth and breadth
\nof its integration into the GBA ecosystem. As a global-scale alliance
\ndedicated to promote the new economy in China’s GBA, GBA Homeland’s
\nestablished network serves as a springboard for Qupital to augment local
\n partnerships and on-the-ground knowledge to assist further expansion in
\n the GBA and Greater China. With China cross-border e-commerce
\nsustaining a 20% year-on-year growth, the rapid industry expansion
\nrenders extra confidence for Qupital to grow its customer base beyond
\nits existing force which concentrates in Guangzhou and Shenzhen.<\/p>\n
\n Nordstar’s e-commerce focused fund joins the round as a new investor.
\nAs a leading investment adviser focusing on international growth and
\nscaling, Nordstar will lend its network to broaden Qupital’s customer
\nbase in Western markets and share the team’s expertise to expedite the
\ncompany’s global expansion.<\/p>\n
\nwill be used to accelerate Qupital’s core lending business to support
\ne-commerce sellers. As part of its five-year plan, the company is set to
\n tap into its abundant network and grow its “buy now, pay later” product
\n model to build an all-encompassing marketplace tailored for B2B
\ntransactions. It will assign resources to enhance its R&D
\ncapabilities in terms of artificial intelligence, big-data technology
\nand MLOps. The company also has plans to extend its footprint across
\nmainland China, as well as international markets including Southeast
\nAsia, North America and Europe. It expects to triple the size of its
\nteam by 2022 to support expansion needs.<\/p>\n
\n “the GBA comprises multiple world-class manufacturing bases, where
\ngoods are produced and capital needs arise; this is where we step in as a
\n solution to bridge the financing demand gap. It also reaffirms the
\nunparalleled role of Hong Kong as an international financial hub \u2013 where
\n innovations are met with opportunities to flourish. We believe Hong
\nKong will continue to play an indispensable role within the GBA as a
\nfinancial powerhouse.”<\/p>\n
\nimprove financial inclusion and increase global trade ultimately, we are
\n committed to back SMEs that have limited access to capital. Being able
\nto work with Citi on this credit facility has fueled our business with a
\n stable pool of funds and improved cost of capital. It is the
\ncornerstone for us to sharpen our product features, build exclusive
\nrelationships with clients and win over market share to gain even
\nstronger foothold in the global market”, said\u00a0Andy Chan, Co-Founder and President of Qupital<\/b>.
\n “Our ambition is to become the go-to digital financial institution for
\ne-commerce sellers trading across the globe in the New Economy.”<\/p>\n<\/p><\/div>\n\n
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