Citi commits $250M to Hong Kong lender FundPark
What's the deal? Hong Kong fintech lender FundPark said on September 2 that CitiDealroom has a profile for this one. Try Dealroom → committed up to $250 million as a senior lender in an asset-backed securitisation facility. The debt facility lifts FundPark's ABS funding capacity to more than $1.25 billion.
What does FundPark do? It provides financing for e-commerce businesses. The company says it has supported more than 40,000 small and medium-sized enterprises over the past decade and facilitated over $9 billion in funding globally.
What's the money for? The facility will support small and medium-sized businesses involved in global trade and digital commerce. Citi joins FundPark's existing funding partners, giving the company a base backed by three global financial institutions.
Why now? Citi has highlighted its Asia Pacific trade-finance franchise and digital supply-chain capabilities. The commitment extends that focus into SME lending across the region.
The signal: The $250 million facility ranks among the larger deals in its class. Research suggests fintech lenders focused on SMEs increasingly use securitisation and institutional funding channels to expand lending — a route FundPark is now leaning on with a major bank behind it.
Read more: techinasia.com
Image credit: @yakobusan Jakob Montrasio
