Qupital Limited

Qupital is a Chinese 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

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.[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]