Qupital, a Hong Kong-based trade finance platform, announced on Wednesday it has entered into an agreement with leading global e-commerce platform eBay as one of its officially recommended Hong Kong financing service providers. According to Qupital, the collaboration will enable the Asian fintech to provide “quality, data-based” offshore financing services to eBay sellers in Greater China through its flagship product “QiaoYiDai” and assist them in resolving their cash flow and working capital issues.
“As a fintech company, Qupital believes it is critical to develop a digitalised financing solution with the interests of merchants at its core. Through the current collaboration with eBay, Qupital will harness the commercial value of its financing products and solutions to the cross-border e-commerce sector.”
While speaking about the partnership with eBay, Johnny Tang, Chief Business Officer of Qupital, stated:
“The greatest value of fintech-driven financing lies in the use of big data to improve financing efficiency, risk control, and client experience. Qupital believes that the cooperation with eBay will significantly enhance such values and benefit a large number of cross-border e-commerce merchants.”
Established in 2016, Qupital describes itself as a financial technology company with a mission to provide cross-border e-commerce companies with quality offshore financing services and solutions, through a digitalized financing process employing big data and its proprietary credit assessment model. In 2018, Qupital secured $15 million through its Series A investment round, which was led by CreditEase FinTech Investment Fund (CEFIF) with additional capital injections from the Alibaba Hong Kong Entrepreneurs fund and MindWorks Ventures.