Fintech FundPark expanded its historic $500 M financing deal with Goldman Sachs
Fintech startup FundPark, with headquarters in Hong Kong, has announced the closing of a historic $500 million asset-backed securitization facility.
Goldman Sachs served as the arranger and senior lender, according to a statement released by FundPark on Monday.
The announcement coincides with FundPark reaching a significant milestone: since its founding in 2016, the company has given over $2 billion in funding to over 16,500 underrepresented businesses.
In April 2022, FundPark secured an existing facility, which is being doubled as part of this deal.
With an emphasis on Asian cross-border eCommerce, FundPark will be able to greatly expand its support of more entrepreneurs and scale its operations thanks to this additional financial capital.
In addition, the company plans to conclude its Series B funding round in the first half of the year. It is also actively using its technology to create new products that will enhance the entire eCommerce ecosystem.
“Our mission is to help digital entrepreneurs to realise their growth potential and build prosperity. Doubling the original facility serves as a powerful boost, enabling us to support more entrepreneurs, especially in Asia, and accelerate our expansion plans,
“This year will be exciting for FundPark as we continue to execute our strategy to evolve our funding base, product offering, and technology, as well as further scale our operations,” said Anson Suen, Chief Executive Officer and Co-Founder at FundPark.
FundPark is a fintech scale-up that was founded in 2016 and provides insights and capital to help digital entrepreneurs meet their growth needs.
In order to close the growing $2.5 trillion trade finance gap globally, the company uses artificial intelligence (AI) technology, data analysis, and its risk-management platform to assist small-to-medium sized eCommerce businesses in obtaining working capital loans and expanding financial inclusion.
“In the fastest growing region in the world, Asia’s cross-border eCommerce market shows promise. This asset-backed securitization facility provides FundPark’s platform the ability to provide small to medium-sized enterprises with the capital required to bridge both immediate and future growth needs,
“We are focused on providing leading companies with financing to achieve their goals and potential,” said Nicola Dondi, a Managing Director at Goldman Sachs.
