Qupital Secures $ 150 Million Funding Round to Accelerate Global Expansion and B2B “Buy Now, Pay Later” Product | Taiwan News

Asia’s Leading Ecommerce Finance Platform Launches Merchant Finance Securitization Mechanism with Citi, the First of its Kind in Asia

HONG KONG SAR – Media reach – November 9, 2021 – First fintech platform in Asia Qupital announced today that it has raised US $ 150 million through a combination of Series B equity financing and an asset-backed securitization facility. The equity financing will bolster Qupital’s ambitions to expand its cross-border e-commerce lending business into international markets and further strengthen its technological capabilities, while the facility will offer a lower cost of financing than Qupital to offer exclusive products. to its current and future customers. .

Qupital Co-Founder and Chairman Andy Chan with Co-Founder and CEO Winston Wong (left to right)

Qupital obtains a funding round of 150 million dollars to accelerate its global and B2B expansion

Qupital’s ambition is to become the digital financial institution of choice for online sellers who trade across the world in the new economy.

The securitization facility with global investment bank Citi, backed by Integrated Alternative Credit Fund, marks the first online merchant finance securitization in Asia. This coincides with the close of Qupital’s Series B cycle, led by the Greater Bay Area Homeland Development Fund (GBA Homeland), with additional capital injections from investors including the Innovation and Technology Venture Fund (ITVF ) from the Hong Kong SAR government, MindWorks Capital, Silverhorn and Alibaba Entrepreneurs Fund.

Qupital harnesses the power of sales data to streamline credit underwriting for sellers on e-commerce platforms such as Amazon, eBay, Lazada, and Shopee, providing a win-win solution for sellers and investors. The platform empowers creditworthy traders who are traditionally underserved in the commercial lending market and creates an alternative asset class with attractive return opportunities for professional and institutional investors. As of October 2021, Qupital had granted more than $ 500 million in loan advances to some 7,000 integrated merchants on its digital platform, following an annualized gross value of goods (CMV) of more than $ 3 billion.

Series B Tour led by GBA Homeland Development Fund, joined by Hong Kong SAR Government ITVF

In addition to the Series B funding, Qupital’s strategic placement within the GBA Homeland portfolio more importantly reflects the depth and breadth of its integration into the GBA ecosystem. As a global alliance dedicated to promoting the new economy in GBA in China, GBA Homeland’s established network serves as a springboard for Qupital to increase local partnerships and knowledge on the ground to foster a further expansion in GBA and Greater China. With cross-border e-commerce in China showing 20% ​​year-over-year growth, the rapid expansion of the industry gives Qupital additional confidence to grow its customer base beyond its existing strength which is focused in Guangzhou and in Shenzhen.

UK-based Nordstar e-commerce focused fund is joining the cycle as a new investor. As a leading investment advisor focused on international growth and expansion, Nordstar will lend its network to expand Qupital’s customer base in Western markets and share the team’s expertise to accelerate the global expansion of Qupital. ‘business.

The majority of the funds raised will be used to accelerate Qupital’s core lending activities to support e-commerce sellers. As part of its five-year plan, the company is preparing to tap into its extensive network and expand its “buy now, pay later” product model to create a global marketplace suitable for B2B transactions. It will allocate resources to improve its R&D capabilities in terms of artificial intelligence, big data technology and MLOps. The company also plans to expand its presence across mainland China, as well as international markets, including Southeast Asia, North America and Europe. He plans to triple the size of his team by 2022 to meet expansion needs.

“This tour de table restores the boundless synergy agglomerated in the region,” said Winston Wong, co-founder and CEO of Qupital. “The GBA has several world-class manufacturing bases, where goods are produced and where capital needs arise; this is where we come in as a solution to closing the funding demand gap. It also reaffirms Hong Kong’s unprecedented role as an international financial hub – where innovations face opportunities to thrive. We believe that Hong Kong will continue to play an indispensable role within the GBA as a financial power. “

“As we aspire to improve financial inclusion and increase global trade over time, we are committed to supporting SMEs that have limited access to capital. Being able to work with Citi on this credit facility has fueled our business with a stable fund pool and improved costs. It is the cornerstone for us to refine the characteristics of our products, establish exclusive relationships with our customers and gain market share to impose ourselves even more in the global market ”, said Andy Chan, co-founder and president of Qupital. “Our ambition is to become the digital financial institution of choice for online sellers who trade across the world in the new economy. “

About Qupital

Founded in 2016, Qupital is a financial technology company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Fuzhou, Shanghai and Hangzhou. The company specializes in cross-border e-commerce finance and uses big data, machine learning and predictive analytics capabilities to automate decision making and credit tracking.

For more information, please visit: Social media iconhttps://www.qupital.com/.

#Qupital

About investors

Grande Baie Region Development Fund

The Greater Bay Area Homeland Development Fund was jointly established by large-scale international industrial institutions, financial institutions and new economic enterprises. It aims to seize the historical opportunities of the development of the region of the great bay of Guangdong-Hong Kong-Macao, and the construction of an international pole of innovation and technology, focused on technological innovation, industrial modernization, quality of life, the smart city and all other related areas. Industries. The Fund covers venture capital, private equity investments, investments in listed companies, investments in mergers and acquisitions, etc. and social development.

For more information, please visit: Social media iconhttp://www.gbahomeland.com

Venture capital fund for innovation and technology

ITVF is a HK $ 2 billion fund established by the Hong Kong SAR government in 2017 with the aim of attracting more private capital to invest in local I&T start-ups and creating an ecosystem more dynamic innovation and technology in Hong Kong. The ITVF will co-invest with selected co-investment partners at a corresponding investment ratio of approximately 1 to 2.

MindWorks
MindWorks invests and empowers Asia’s brightest entrepreneurs to build transformative businesses. The venture capital firm is using a pan-Asian strategy to seek direct investment in technology companies across Greater China and Southeast Asia. Founded in 2013, the company is headquartered in Hong Kong with offices in Beijing, Shanghai and Jakarta.

MindWorks has been recognized by Preqin as one of the best performing venture capital firms and is also a signatory of the United Nations Principles for Responsible Investment.

The company currently manages over US $ 1 billion in net asset value across its funds and is a co-investment partner of the Innovation Technology Venture Fund initiated by the Hong Kong government.

Silver horn
Founded in 2010, Silverhorn Group is an Asian, multi-asset owner-managed specialist providing smart investment solutions that bridge the gap between Europe and Asia. Silverhorn offers leading private debt, private equity and multi-asset class products as well as access to key opportunities in the region. The 50+ team members are located at headquarters in Hong Kong, Singapore, Switzerland and a research center in India. Social media iconwww.silverhorngroup.com

Nordstar
Nordstar is an investment and advisory platform that partners with growing companies looking for strategic and operational expertise, personalized advice and smart capital. Founded by Ole Ruch and Eugen Miropolski, the company provides founders with access to first-hand information gained through the expansion and growth of some of the most transformational companies of the past decade internationally. Find us on Social media iconwww.nordstar.com.


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