Qupital, a fintech firm based in Hong Kong, has raised $15m in a Series A round funding round led by CreditEase FinTech Investment Fund (CEFIF), the direct investment unit of Chinese fintech CreditEase.
CreditEase was joined by Alibaba Entrepreneurs Fund and MindWorks Ventures, who participated in Qupital’s seed financing round.
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With the fresh capital, Qupital aims to bolster its mainland China footprint.
The firm also intends to use the new money for expanding its technology development and risk management teams as well as supporting its cross-border e-commerce expansion.
In order to enable the geographical expansion of Qupital, CreditEase will provide marketplace lending access and networks.
CEFIF managing director Dennis Cong said: “We look forward to working with Qupital to broaden its source of capital base and create an unparalleled investment opportunities for CreditEase.
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By GlobalData“We will be working with Qupital to further utilise the technologies to enhance risk management, user experience and operational efficiency.”
Qupital connects SMEs to professional investors, enabling them to raise capital quickly.
Qupital founder Winston Wong said: “Since the completion of the seed round financing, we successfully handled over 8,000 transactions, totaling HKD 2 billion.
“Over the past two years, we are grateful to all our investment partners for supporting Qupital.”
