Qupital provides financing to e-commerce sellers by harnessing sales data to streamline credit underwriting for merchants on platforms such as Amazon, eBay, Lazada and Shopee. The platform targets creditworthy merchants who are traditionally underserved and packages receivables as an alternative asset class for professional and institutional investors. As of October 2021 Qupital had advanced over US$500 million in loans to roughly 7,000 merchants and tracked an annualized gross merchandise value (GMV) of over US$3 billion. The company plans to scale its cross-border lending business, build a B2B “buy now, pay later” marketplace, and expand its footprint across mainland China as well as Southeast Asia, North America and Europe. Qupital intends to invest in R&D—specifically AI, big-data technology and MLOps—and expects to triple the size of its team by 2022 to support expansion. The firm currently concentrates operations around Guangzhou and Shenzhen and emphasizes Hong Kong and the Greater Bay Area as strategic hubs for growth. Qupital operates a platform that provides invoice-backed lending and supply-chain financing for small and medium-sized enterprises, matching loans that cover most of an invoice's value with investors and funders. The company charges SMEs a fixed-percentage service fee and a discount fee, and takes a percentage of net gains made by investors. Qupital has processed 8,000 trades totaling HKD 2 billion in value and says it has served hundreds of SMEs. It plans to expand its supply-chain financing products and launch operations in mainland Chinese cities, including Shanghai, Hangzhou, Guangzhou and Shenzhen. Qupital will set up a new technology center in the Guangdong‑Hong Kong‑Macau Greater Bay Area and hire roughly 100 people for its Hong Kong office this year to bolster tech development and risk management. The company uses alternative data sources to assess creditworthiness and targets SMEs underserved by traditional lenders. Qupital operates a marketplace that lets SMEs take loans against unpaid invoices while matching those loan needs with investors/funders. The platform went online in August 2016 and to date has processed 80 trades with a total value of over $2 million. It earns fees from borrowers of 0.25–0.75% of invoice value and takes 20% of net gains made by investors; investors can expect roughly 1% per month (about 12% annualized). The company aims to reach break-even within the next 18 months by scaling its customer base. Founders are mid-20s entrepreneurs Andy Chan (25) and Winston Wong (26). Qupital is considering new products such as purchase order financing and automated investor contributions, and may expand to export-oriented markets like Vietnam, Taiwan or Thailand after a Series A.

Total raised

$167M

Funding rounds

4

Latest round

Series B

Latest activity

Nov 2021