Qupital
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| Private | |
| ISIN | 🆔 |
| Industry | |
| Founded 📆 | 2016 |
| Founders 👔 | Andy Chan and Winston Wong |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
| Services | Data-based supply chain financing |
| Members | |
Number of employees | 50+ |
| 🌐 Website | qupital |
| 📇 Address | |
| 📞 telephone | |
| Footnotes / references [1] | |
Qupital is a financial technology company headquartered in Hong Kong, with operations across multiple cities in Greater China, including Shanghai, Shenzhen, Hangzhou, Guangzhou, and Fuzhou.[2][3]
The company mainly provides financing solutions to participants of the e-commerce supply chain.[4]
History[edit]
The company was founded by Andy Chan and Winston Wong in 2016. In March 2016, MindWorks Ventures became the first venture capital firm to angel invest in Qupital. In May 2017, the firm topped up its investments and co-led a US$2 million seed round with Alibaba Entrepreneurs Fund. Other backers of the round included DRL Capital and Aria Group.[5][6]
In November 2017, Qupital expanded its services to provide funding solutions for cross-border e-commerce sellers. In 2018, the company pivoted towards data-based financing from account receivables financing.[7][8]
In March 2018, Qupital closed its US$15 million series A funding round led by CreditEase Fintech Investment Fund. Returning investors include Alibaba Entrepreneurs Fund and MindWorks Venture.[9][10][11]
In October 2018, the company released its flagship product QiaoYiDai (橋易貸)[12][13] and formed strategic partnerships with companies such as Alibaba, Cainiao, eBay, LianLian Global and PingPong Group.[14][15]
In November 2021, Qupital announced the closing of a US$150 million round – a combination of series B equity funding led by the Greater Bay Area Homeland Development Fund and a receivables-backed securitization facility entered with Citigroup.[16] Other investors of the round include the Innovation and Technology Venture Fund of the Hong Kong SAR Government, MindWorks Capital, Silverhorn Group, Alibaba Entrepreneurs Fund and UK-based Nordstar.[17][18] The company also revealed plans to expand to international markets, including the US, Europe and Japan.[19]
Product & Services[edit]
Data-based Supply Chain Financing[edit]
The company provides working capital loans for e-commerce merchants operating on marketplaces and independent platforms, such as Amazon, eBay, Shopee, and Lazada.[20][21]
Alternative Investment Platform[edit]
Qupital also operates a financial technology platform that connects e-commerce merchants with professional investors.[22]
Growth[edit]
To date, Qupital has raised over US$170 million in total.[citation needed]
As of November 2021, Qupital has disbursed over US$500 million in loans and served over 7,000 cross-border e-commerce merchants, recording a total merchant GMV of over US$ 3 billion.[23]
References[edit]
- ↑ "Qupital: About Us page". qupital.com. Retrieved 2022-07-28.
- ↑ "Qupital: About Us". qupital.com. Retrieved 2022-07-28.
- ↑ "Alibaba-backed financing platform Qupital raises $150m for growth". Nikkei Asia. 2021-11-09. Retrieved 2022-07-28.
- ↑ "Qupital: About Us". qupital.com. Retrieved 2022-07-28.
- ↑ "一份履历让你更懂我：桥彼道的发展历程". 雨果跨境. 2020-04-10. Retrieved 2022-07-28.
- ↑ "Invoice Trading Platform Qupital Receives $2 Million in Seed Funding Led By Alibaba Entrepreneurs Fund & MindWorks Ventures". Crowdfund Inside. 2017-05-20. Retrieved 2022-07-28.
- ↑ "Qupital Strengthens Invoice Financing Platform for Hong Kong SME". Bloomberg. 2018-03-15. Retrieved 2022-07-28.
- ↑ "瞄準雙11千億商機 港產「賣帳」平台強攻跨境電商 搶飲頭啖湯". 香港01. 2018-10-31. Retrieved 2022-07-28.
- ↑ "CreditEase Invests in Qupital, Hong Kong's Largest SME Financing Platform". Markets Insider. 2019-03-29. Retrieved 2022-08-20.
- ↑ "橋彼道獲A輪融資1.17億 宜信領投 阿里基金跟投". StartUpBeat. 2019-03-27. Retrieved 2022-07-28.
- ↑ "Hong Kong-based fintech startup Qupital raises $15M Series A to expand in mainland China". TechCrunch. 2019-03-27. Retrieved 2022-07-28.
- ↑ "「桥彼道Qupital」与「连连国际」共同推出新产品"桥易贷"，提供离岸美元融资服务". 雨果跨境. 2020-05-20. Retrieved 2022-07-28.
- ↑ "Qupital partners with LianLian Global to provide enhanced financing services to cross-border e-commerce sellers". Markets Insider. 2020-05-19. Retrieved 2022-07-28.
- ↑ "Qupital - Fintech for a better future". qupital.com. Retrieved 2022-07-28.
- ↑ "Hong Kong fintech startup Qupital will offer services to eBay cross-border sellers – TechCrunch". TechCrunch. 2020-06-23. Retrieved 2022-08-20.
- ↑ "Qupital Secures US$150 Million Round to Accelerate Global Expansion and B2B "Buy Now, Pay Later" Product". Yahoo! Finance. 2021-11-09. Retrieved 2022-07-28.
- ↑ "金融科技Qupital B輪融資 政府旗下創科創投基金等有份注資". 香港01. 2021-11-09. Retrieved 2022-07-28.
- ↑ "Alibaba fund joins $150m round of Hong Kong fintech firm". Tech in Asia. 2021-11-09. Retrieved 2022-07-28.
- ↑ "橋彼道籌11.7億搶灣區市場 提升AI大數據研發 助電商融資". StartUpBeat. 2021-11-10. Retrieved 2022-07-28.
- ↑ "E-commerce Financing - Amazon, eBay seller quick loan". Retrieved 2022-07-28.
- ↑ "Qupital Secures US$150 Million Round to Accelerate Global Expansion and B2B "Buy Now, Pay Later" Product". Yahoo! Finance. 2021-11-09. Retrieved 2022-07-28.
- ↑ "Qupital: About Us". qupital.com. Retrieved 2022-07-28.
- ↑ "Qupital Secures US$150 Million Round to Accelerate Global Expansion and B2B "Buy Now, Pay Later" Product". 2021-11-09. Retrieved 2022-07-28.
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