Qupital Limited is a financial technology company backed by Alibaba 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 Group partnered with Qupital Limited for SMB financing.[1]
History
editIn 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.[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 Capital was listed among Hong Kong ICT Awards 2019 winners.[7][8]
As of October 2021, Qupital Limited has achieved over US$500 million in loan advancement.[9] In November 2021, Qupital Limited raised $150 million during the Series B funding round.[10][11][12] UK-based Nordstar's e-commerce-focused fund joined the round as a new investor, and lent 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]
In 2024, Qupital Limited raised additional financing during series B round.[14]
References
edit- ^ a b PYMNTS (2018-03-16). "Alibaba Partners With Qupital For SMB Financing - PYMNTS.com". Retrieved 2024-06-25.
- ^ a b Russell, Jon (2017-05-18). "Hong Kong's Qupital raises $2M led by Alibaba to finance invoice loans for SMEs". TechCrunch. Retrieved 2024-06-25.
- ^ Yap, Tun Yong. "(Exclusive) Decacorn Capital invests in Qupital to fuel expansion of B2B fintech e-commerce platform in China". e27. Retrieved 2024-06-25.
- ^ Shu, Catherine (2020-06-24). "Hong Kong fintech startup Qupital will offer services to eBay cross-border sellers". TechCrunch. Retrieved 2024-06-25.
- ^ Net, 經濟通 ET. "FinTech Awards 2017". FinTech Awards 2017 - 經濟通 ET Net. Retrieved 2024-06-25.
- ^ a b Shu, Catherine (2019-03-29). "Hong Kong-based fintech startup Qupital raises $15M Series A to expand in mainland China". TechCrunch. Retrieved 2024-06-25.
- ^ "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 2024-06-25.
- ^ "Hong Kong ICT Awards 2019" (PDF). hkictawards.hk. 2019.
- ^ "Hong Kong's Qupital raises $150 million". Finextra Research. 2021-11-18. Retrieved 2024-01-03.
- ^ a b c "Hong Kong's Qupital raises $150 million". Finextra Research. 2021-11-18. Retrieved 2024-06-25.
- ^ a b c "Hong Kong's Qupital secures $150m Series B | AVCJ". www.avcj.com. 2021. Retrieved 2024-06-25.
- ^ a b "HK-based fintech startup Qupital raises $150m to expand footprint". DealStreetAsia. Retrieved 2024-06-25.
- ^ "Qpdao opens a new era of cross-border e-commerce investment and financing industry". www.newsnetmedia.com. Retrieved 2024-06-25.
- ^ "Qupital bags Series B2 funding to fuel market expansion and product offerings". IBS Intelligence. Retrieved 2024-06-25.