Qupital Secures Series B2 Financing for E-commerce Loans Portfolioby Fintech News Hong Kong January 25, 2024
Qupital, an Asian data-driven financing platform for SMEs, has secured its Series B2 financing round
The funding, contributed by investors from Hong Kong and Southeast Asia, is intended to expand its securitisation facility with Citi, supporting its e-commerce loan portfolio.
Qupital states it has disbursed over US$2 billion (HK$15.6 billion) in total loans since 2016, focusing on cross-border e-commerce financing sectors.
The company claims its proprietary credit model, utilising big data, moves beyond traditional collateral-based lending, aiming to provide e-commerce merchants with timely and cost-effective working capital by leveraging inventory value.
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.