HONG KONG SAR – Media OutReach Newswire – January 25, 2024 – Qupital, Asia’s leading data-driven financing platform for new economy SMEs, today announced its new Series B2 financing round funded by a consortium of new and existing investors from Hong Kong and the South East. Asia. This new capital injection will be instrumental in increasing its Citi-backed securitization facility, which supports its rapidly growing e-commerce loan portfolio.
Since 2016, Qupital has demonstrated its market leadership in the trade finance sector with over $2 billion in total loans disbursed. It has continued to innovate its product offering and increase its market penetration, covering both the import and export cross-border e-commerce finance sectors. Going beyond traditional underwriting methods that emphasize collateral-based lending, Qupital’s proprietary credit model harnesses the power of Big Data and unlocks inventory value, providing online merchants access immediate to timely and affordable working capital.
“This funding round fully reflects our investors’ confidence in Qupital as a leader in the trade finance industry. It also validates Qupital’s mission to improve the financial inclusion of small and medium-sized businesses 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 strong but diversified e-commerce loan portfolio that has a particularly low default rate, Qupital offers professional investors an attractive alternative asset, low correlated with other . asset classes while relying on Big Data and advanced technologies.
With this new round of funding, Qupital is poised to capture the vast growth opportunities offered by the ever-dynamic e-commerce landscape comprised of rising stars like Temu, TikTok, Douyin, JD.com and Pinduoduo, etc. propel its core financing business to new heights, with confidence in its historical performance, it will also prepare for public offering of securities as a pioneering asset class accessible to a wider range of investors in the near future .
Hashtag: #Qupital #fundraising #fintech #tradefinance #ecommerce #business #technology
The issuer is solely responsible for the content of this announcement.
