Qupital Limited
IndustryFinancial services
Founded2016
FoundersAndy Chan, Winston Wong
Headquarters
Kowloon, Hong Kong
Websitequpital.com

Qupital Limited is a financial technology company that develops a platform for cross-border e-commerce financing. The company is headquartered in Hong Kong and has offices in Shanghai and Shenzhen.[1] In 2018, Alibaba partnered with Qupital Limited for SMB financing.[1]

History

In March 2016, Qupital Limited was founded in Hong Kong by Andy Chan and Winston Wong.[2][3][4]

In March 2017, the company secured $2 million seed funding in a round led by Alibaba Entrepreneurs Fund and Mindworks Ventures. Other investors that took part include DRL Capital and Aria Group.[2]

During the 2017 FinTech Awards, Qupital was recognized as Outstanding SME Financial Platform.[5]

In March 2019, Qupital completed $15 million series. It also reached US$100 million in total loans disbursed.[6]

In June 2019, the company opened an office in Shanghai and in Shenzhen in October.[6]

The same year, Qupital Limited was listed among Hong Kong ICT Awards 2019 winners.[7][8]

As of October 2021, Qupital has achieved over US$500 million in loan advancement.[9]

In November 2021, Qupital raised $150 million during the Series B funding round.[10][11][12] Among the participants were MindWorks Capital, Silverhorn Group, and Alibaba Entrepreneurs.[11] UK-based Nordstar's e-commerce-focused fund joined the round as a new investor, and lended its network to broaden Qupital's customer base in Western markets.[10][11][12] The company also entered into Asia's first e-commerce securitization facility with Citi.[10][11]

In January 2022, the company introduced its new Shopify merchant offering.[13]

References

  1. 1 2 PYMNTS (2018-03-16). "Alibaba Partners With Qupital For SMB Financing - PYMNTS.com". Retrieved 2023-11-15.
  2. 1 2 Russell, Jon (2017-05-18). "Hong Kong's Qupital raises $2M led by Alibaba to finance invoice loans for SMEs". TechCrunch. Retrieved 2023-11-15.
  3. ↑ Yap, Tun Yong. "(Exclusive) Decacorn Capital invests in Qupital to fuel expansion of B2B fintech e-commerce platform in China". e27. Retrieved 2023-11-15.
  4. ↑ Shu, Catherine (2020-06-24). "Hong Kong fintech startup Qupital will offer services to eBay cross-border sellers". TechCrunch. Retrieved 2023-11-15.
  5. ↑ Net, 經濟通 ET. "FinTech Awards 2017". FinTech Awards 2017 - 經濟通 ET Net. Retrieved 2023-11-15.
  6. 1 2 Shu, Catherine (2019-03-29). "Hong Kong-based fintech startup Qupital raises $15M Series A to expand in mainland China". TechCrunch. Retrieved 2023-11-15.
  7. ↑ "Hong Kong ICT Awards 2019 – ICT Startup Award Promote Outstanding Hong Kong ICT Startups Enhance Local ICT Technique Applications - Jumpstart Magazine". 2019-04-10. Retrieved 2023-11-15.
  8. ↑ "Hong Kong ICT Awards 2019" (PDF). hkictawards.hk. 2019.
  9. ↑ "Hong Kong's Qupital raises $150 million". Finextra Research. 2021-11-18. Retrieved 2024-01-03.
  10. 1 2 3 "Hong Kong's Qupital raises $150 million". Finextra Research. 2021-11-18. Retrieved 2023-11-15.
  11. 1 2 3 4 "Hong Kong's Qupital secures $150m Series B | AVCJ". www.avcj.com. 2021. Retrieved 2023-11-15.
  12. 1 2 "HK-based fintech startup Qupital raises $150m to expand footprint". DealStreetAsia. Retrieved 2023-11-15.
  13. ↑ "Qpdao opens a new era of cross-border e-commerce investment and financing industry". www.newsnetmedia.com. Retrieved 2023-11-15.
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