Qupital, a data-driven fintech platform specialising in supply chain financing solutions for e-commerce businesses, has announced a significant development in its financial landscape.
The company has successfully refinanced its securitisation facility, with HSBC joining Citigroup as a senior lender, marking a strategic expansion of the facility.
Since its inception in 2016, Qupital has disbursed over US$2 billion while maintaining a low default rate of below 0.1 percent. This achievement establishes Qupital as a pioneer in e-commerce loan securitisation within Asia.
According to Qupital, the new facility, tailored by the HSBC New Economy Fund, underscores the platform’s commitment to providing competitive financing solutions and facilitating global trade on leading platforms such as Amazon, eBay, Tmall, JD.com, and Pinduoduo.
Winston Wong
“We are thrilled to renew our partnership with Citi and welcome HSBC as an additional senior lender. This enhanced facility is not just a testament to the robustness of our business potential but also a clear indicator of the trust and confidence that leading global financial institutions have in our vision,”
said Winston Wong, Co-founder & CEO of Qupital.
The collaboration with Citi and the new partnership with HSBC will enable Qupital to increase its loan origination capacities, maintain competitive pricing, and expand its product offerings by leveraging both banks’ strong networks in the digital economy.
Qupital has also intensified its partnership efforts with inventory, logistics, and payment services such as Cainiao and Airwallex, aiming to penetrate deeper into the e-commerce ecosystem.
With the data provided by these partners, Qupital’s advanced data analytics and AI-driven credit model are poised to set new benchmarks in the fintech financing sector. This will foster significant opportunities for e-commerce trade and contribute to global economic growth.
Featured image credit: Edited from Freepik