Qupital Limited Explained

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.

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. 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. 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. The company also entered into Asia's first e-commerce securitization facility with Citi. In January 2022, the company introduced its new Shopify merchant offering.[13]

In 2024, Qupital Limited raised additional financing during series B round.[14]

Notes and References

  1. Web site: PYMNTS . 2018-03-16 . Alibaba Partners With Qupital For SMB Financing - PYMNTS.com . 2024-06-25 . en-US.
  2. Web site: Russell . Jon . 2017-05-18 . Hong Kong's Qupital raises $2M led by Alibaba to finance invoice loans for SMEs . 2024-06-25 . TechCrunch . en-US.
  3. Web site: Yap . Tun Yong . (Exclusive) Decacorn Capital invests in Qupital to fuel expansion of B2B fintech e-commerce platform in China . 2024-06-25 . e27 . en.
  4. Web site: Shu . Catherine . 2020-06-24 . Hong Kong fintech startup Qupital will offer services to eBay cross-border sellers . 2024-06-25 . TechCrunch . en-US.
  5. Web site: Net . 經濟通 ET . FinTech Awards 2017 . 2024-06-25 . FinTech Awards 2017 - 經濟通 ET Net . en.
  6. Web site: Shu . Catherine . 2019-03-29 . Hong Kong-based fintech startup Qupital raises $15M Series A to expand in mainland China . 2024-06-25 . TechCrunch . en-US.
  7. Web site: 2019-04-10 . Hong Kong ICT Awards 2019 – ICT Startup Award Promote Outstanding Hong Kong ICT Startups Enhance Local ICT Technique Applications - Jumpstart Magazine . 2024-06-25 . en-US.
  8. Web site: 2019 . Hong Kong ICT Awards 2019 . hkictawards.hk.
  9. Web site: 2021-11-18 . Hong Kong's Qupital raises $150 million . 2024-01-03 . Finextra Research . en.
  10. Web site: 2021-11-18 . Hong Kong's Qupital raises $150 million . 2024-06-25 . Finextra Research . en.
  11. Web site: 2021 . Hong Kong's Qupital secures $150m Series B AVCJ . 2024-06-25 . www.avcj.com . en.
  12. Web site: HK-based fintech startup Qupital raises $150m to expand footprint . 2024-06-25 . DealStreetAsia . en.
  13. Web site: Qpdao opens a new era of cross-border e-commerce investment and financing industry . 2024-06-25 . www.newsnetmedia.com . en.
  14. Web site: Qupital bags Series B2 funding to fuel market expansion and product offerings . 2024-06-25 . IBS Intelligence . en-US.

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