Qupital welcomes HSBC and Citi as lead investors in the securitization facility

HONG KONG SAR – Newswire Media OutReach – June 12, 2024 – Qupital, Asia’s leading data-driven fintech platform specializing in supply chain financing solutions for e-commerce enterprises, is pleased to announce the successful refinancing of its securitization facility, with HSBC joining Citigroup as lead lender in a strategic expansion of the facility . This development represents a significant milestone in Qupital’s growth and its commitment to increasing financial accessibility for SMEs in the new economy.

Since its inception in 2016, the company has disbursed over $2 billion while maintaining an exceptionally low default rate of less than 0.1%, making Qupital a pioneer in e-commerce loan securitization in Asia. The new facility, a tailored securitization solution provided by HSBC New Economy Fund, will enhance Qupital’s capabilities to provide competitive financial solutions, thereby facilitating global trade on platforms such as Amazon, eBay, Tmall, JD.com and Pinduoduo etc. HSBC enables Qupital continues to leverage its business model and ability to transform and improve the supply chain finance industry, exemplifying the benefits of banks and fintech working together to build a more dynamic and inclusive financial landscape.

Winston Wong, Co-founder and CEO of Qupital expressed his enthusiasm for the partnership, stating: “We are excited to renew our partnership with Citi and welcome HSBC as an additional senior lender. This enhanced facility is not only a testament to the solidity of our business potential, but also a clear indicator of the confidence that the world’s leading financial institutions have in our vision. While we completed our Series B2 fundraising round in January this year to secure new financing, with this expanded facility we are better positioned to provide e-commerce businesses with more flexible and accessible financing solutions, fueling their growth and contributing to global economic prosperity. “

The continued collaboration with Citi and new partnership with HSBC will enable Qupital to increase its lending capacity, maintain competitive pricing and expand its product offerings by leveraging both banks’ strong digital economy networks. The company continued to intensify its partnership efforts to collaborate with inventory, logistics and payment services companies such as Cainiao and Airwallex to penetrate the e-commerce ecosystem. With the data these partners are able to feed into Qupital’s advanced data analytics and AI-powered lending model, Qupital is poised to set new standards in the fintech financing sector, supporting significant opportunities for e-commerce and global economic contribution.

Contact with the media:

Angie Kwong

Vice President

Hashtag: #Qupital #fundraising #fintech #tradefinance #ecommerce #business #technology #HongKong #startup

https://www.qupital.com

The issuer is solely responsible for the content of this announcement.

About Qupital

Qupital is a Hong Kong-based FinTech company that specializes in data-driven financing, primarily serving US and European sellers in China selling on platforms such as Amazon, eBay, Shopee, Lazada, as well as domestic sellers in China on JD .com, Tmall, Pinduoduo, etc. To date, it has disbursed over $2 billion since 2016 with an extremely low default rate of less than 0.1%, an industry-leading performance. The company’s most important investors include Alibaba, the Greater Bay Area National Development Fund and the Hong Kong government.

For more information please visit: https://www.quipital.com/.

Source : Qupital welcomes HSBC and Citi as lead investors in the securitization facility

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