Qupital, a Hong Kong-based fintech firm specialising in supply chain financing for e-commerce, has secured funding from Lending Ark. The sum was not disclosed.
Lending Ark manages over US$1 billion in asset-backed credit investments across Asia.
This mezzanine financing aims to strengthen Qupital‘s e-commerce receivables-backed securitisation facility, already supported by HSBC and Citi.
The funding will help Qupital offer more flexible and cost-effective financing options to cross-border e-commerce merchants.
Qupital primarily serves merchants in China who sell to the U.S. and Europe on platforms like Amazon, eBay, Shopee, and Lazada, as well as domestic merchants on JD.com, Tmall, and Pinduoduo.
Since its founding in 2016, Qupital has provided over US$2 billion in financing driven by its AI-powered credit model.
Qupital had raised Series B2 funding in January this year to further expand its e-commerce loan portfolio.
Andy Chan, Co-founder and President of Qupital, said,
“We are thrilled to be partnering with Lending Ark to bolster our funding capabilities.
Having Lending Ark on board will allow us to deploy capital more efficiently, as well as fulfilling the strong demands for working capital from cross-border e-commerce merchants while daily online consumption continues to grow globally.”
Gregory Park, Lending Ark Fund Head, said,
“Qupital, quintessentially, represents the explosive growth opportunities across the Asia Pacific region in e-commerce.
Lending Ark is excited to partner with Winston Wong, Andy Chan and the entire Qupital team in shaping the future of cross-border e-commerce trade further contributing to the global digital economy.”
Featured image credit: Edited from Freepik