Data-driven financing platform Qupital raised Series B2 funding from new, existing investors

Qupital, a data-driven financing platform for small and medium-sized enterprises (SMEs) in the new economy with headquarters in Hong Kong, announced that it has raised a new Series B2 financing round, which is being funded by a group of both new and existing investors from Southeast Asia and Hong Kong.

In a statement, Qupital said that the additional funding will be crucial to scaling its Citi-backed securitization facility, which sustains its quickly expanding portfolio of e-commerce loans.

“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.

“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 low correlation with other asset classes while empowered by big data and advanced technologies,” he added.

Qupital claimed that with this new round of funding, the company is ready to take advantage of the enormous growth prospects presented by the constantly thriving e-commerce scene, which is home to up-and-coming companies like Temu, TikTok, Douyin, JD.com, and Pinduoduo, among others.

With confidence in its performance history, the company is determined to grow its core financing business to new heights. At the same time, it will get ready to issue public notes, which will be a ground-breaking asset class accessible to a larger group of investors soon.

Qupital is a FinTech company based in Hong Kong that specializes in data-driven financing. It primarily serves Chinese merchants who sell on platforms such as Amazon, eBay, Shopee, Lazada, and JD.com, as well as domestic merchants on platforms like Pinduoduo, Tmall, and eBay that are accessible to consumers in the United States and Europe.

It has distributed more than $2 billion since 2016 and has a very low default rate—less than 0.1 percent—to date.

Alibaba, Citi, the Greater Bay Area Homeland Development Fund, and the Hong Kong government are a few of its well-known investors.

Qupital has been expanding its market penetration and introducing new products to cater to the import and export cross-border e-commerce financing sectors.