Qupital

Last updated
Qupital Limited
IndustryFinancial services
Founded2016
FoundersAndy Chan, Winston Wong
Headquarters
Kowloon, Hong Kong
Website qupital.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]

Related Research Articles

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American multinational financial services and SaaS company

Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

NerdWallet is an American personal finance company, founded in 2009 by Tim Chen and Jacob Gibson. It has a website and app that earns money by promoting financial products to its users.

<span class="mw-page-title-main">Kriya (company)</span> British business finance lender

Kriya is a British business finance lender, specialising in invoice finance, business loans and embedded finance. It is described as a FinTech company.

iwoca British credit financing company

iwoca Ltd. is an online credit financing company based in London. It offers credit facilities to small businesses trading in the UK and Germany via an automated lending platform. CEO Christoph Rieche and CTO James Dear founded iwoca in October 2011 and the company started trading in March 2012. They aimed to offer custom-built loans to small businesses, who usually struggled with fair access to finance from big banks. To start with, these were exclusively e-commerce businesses, but in April 2014, iwoca began lending to all types of small businesses. By July 2015, it was reported to have seen 250% year-on-year growth in issuance.

<span class="mw-page-title-main">Kantox</span> Multinational financial technology company

Kantox Ltd is a multinational fintech company that offers Currency Management Automation software for corporate clients. Their software automates the pre-trade, trade, and post-trade stages of the corporate foreign exchange (FX) workflow.

Fundbox is a working capital platform based in San Francisco that offers credit and payments as a service to small businesses. Founded in 2013, the company innovates technology to help optimize cash flow for small businesses.

<span class="mw-page-title-main">Fintech</span> Subset of technologies used in finance

Fintech, a clipped compound of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public. Fintech companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.

Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group. The group owns the world's largest mobile (digital) payment platform Alipay, which serves over 1.3 billion users and 80 million merchants, with total payment volume (TPV) reaching CN¥118 trillion in June 2020. It is the second largest financial services corporation in the world, behind Visa. In March 2019, The Wall Street Journal reported that Ant's flagship Tianhong Yu'e Bao money-market fund was the largest in the world, with over 588 million users, or more than a third of China's population, contributing cash to it.

<span class="mw-page-title-main">WeLab</span> Hong Kong financial technology company

WeLab Limited is a Hong Kong financial technology company offering a range of services, such as online consumer credit platforms and virtual banking. It was founded in January 2013 by Simon Loong, Kelly Wong and Frances Kang and is best known for being the parent company of WeLab Bank, one of the first virtual banks to be granted a license to operate in Hong Kong.

<span class="mw-page-title-main">SumUp</span> Financial technology company

SumUp is a global financial technology company headquartered in London, United Kingdom. SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates business tools created specifically for the micro and nano segment.

<span class="mw-page-title-main">ID Finance</span>

ID Finance is a financial technology company founded in 2012 by Boris Batine and Alexander Dunaev. It is predominantly focused on emerging markets, which are characterized by noncompetitive financial services, limited availability of credit and high barriers to entry.

<span class="mw-page-title-main">PayU</span> Fintech company that provides payment solutions to online merchants.

PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002, and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. As of 2018, the service is available in 17 countries. The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.

<span class="mw-page-title-main">Solaris (credit institution)</span> German banking-as-a-service credit institution

Solaris SE is a credit institution licensed in Germany, with headquarters in Berlin and branches in London, Paris, Milan, Madrid and Vilnius.

<span class="mw-page-title-main">Drip Capital</span> Digital trade finance company

Drip Capital is a digital trade finance company based in Palo Alto, California. The company offers working capital to small and medium sized companies engaged in cross-border trade in India, Mexico and the United States using technology and data analytics.

Upgrade, Inc. is an American neobank founded in 2016. It has raised $600 million in equity funding and made over $10 billion in loans since its launch in 2017. Upgrade is headquartered in San Francisco, California with offices in Phoenix, Arizona and Montreal, Quebec, Canada. The company offers credit and banking products to consumers and delivers fixed-rate credit cards and loans. The company's other services include credit monitoring and education tools.

Airwallex is a multinational financial technology company offering financial services and software as a service (SaaS). Founded in 2015 in Melbourne, Australia and currently based in Singapore, the company is a financial technology platform providing cross-border payments and financial services to businesses through a proprietary banking network and its API. It also provides services and products such as business accounts, expense cards, and payroll, among others. It was Australia's third technology unicorn company overall. With a valuation of US$5.5 billion, as of 2022, the company processed $50 billion in annualized transactions.

Stitch is a fintech company operating in Africa providing open banking and payment products. The company's headquarters are located in Cape Town, South Africa.

GoCardless is a fintech company that specialises in bank payments including recurring payments, Direct Debit processing and Open Banking. GoCardless is headquartered in London.

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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.