Qupital raises $300M in combined capital to expand AI-driven trade finance
What's the deal? Qupital, a Hong Kong fintech that finances cross-border e-commerce trade, has raised $300 million in combined capital anchored by a Series C round. M CapitalDealroom has a profile for this one. Try Dealroom → led the financing, with additional asset-backed securities (ABS) commitments from Mitsubishi UFJ Financial Group (MUFG)Dealroom has a profile for this one. Try Dealroom → and Quester CapitalDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Qupital lends working capital to online merchants selling on marketplaces including Amazon, TikTok ShopDealroom has a profile for this one. Try Dealroom →, TmallDealroom has a profile for this one. Try Dealroom →, and JD.com. It uses an automated risk engine that draws on merchants' live sales data to underwrite loans, and has processed more than $9.5 billion in cumulative loans to date.
Where's the money going? The company plans to expand its financing across China, the US, Japan, and Southeast Asia, while scaling its AI risk engine. It expects profit margins to top 45% within the next 12 months and is exploring capital-market options, including an IPO, further fundraising, and acquisitions.
Why now? Co-founder and president Andy Chan pointed to "double digit year-on-year growth in cross-border e-commerce" driving what he called a "trillion-dollar liquidity gap." The company says it has compounded profitability over the past two years.
In their words: "Converting live transactional data into instant trade credit is no longer just an advantage, it is the baseline for the future of digital commerce," said co-founder and chief executive officer Winston Wong.
The signal: At $300 million, this round sits in the top 3% of all Series C deals for enterprise software companies in Hong Kong. As the first Asian platform to securitise e-commerce merchant loans, Qupital's raise — backed by a global bank like MUFG — signals investor appetite for data-driven lenders positioned to serve underbanked online sellers.
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Image credit: Qupital
