Qupital secures US$150mln round to accelerate global expansion and b2b Buy now, Pay later product

Qupital secures US$150mln round to accelerate global expansion and b2b Buy now, Pay later product

HONG KONG SAR- Asia's leading financial technology platform Qupital today announced it has raised US$150 million in a combination of Series B equity funding and a receivables-backed securitization facility. The equity funding will reinforce Qupital's ambitions to scale its cross-border e-commerce lending business into international markets and further strengthen its technological capabilities, whilst the facility will provide a lower cost of funding for Qupital to offer exclusive products to its present and future clients. Qupital's Co-Founder and President Andy Chan with Co-Founder and Chief Executive Officer Winston Wong (from left to right)Qupital's ambition is to become the go-to digital financial institution for e-commerce sellers trading across the globe in the New Economy. The securitization facility entered with global investment bank Citi, supported by Integrated Alternative Credit Fund, marks the first e-commerce merchant financing securitization in Asia. This coincides with the closing of Qupital's Series B round, 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) of 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