Connect with us

Tech

Hong Kong fintech Qupital partners with eBay to provide financing for sellers

Published

on

Hong Kong fintech Qupital partners with eBay to provide financing for sellers

Qupital, a commerce financing platform, introduced at present that it’ll associate with eBay as considered one of its formally really useful Hong Kong financing service suppliers. In at present’s announcement, Qupital mentioned it can present offshore financing companies, together with working capital, to eBay sellers in China by way of QiaoYiDai, its foremost product.

The settlement with eBay means Qupital will have the ability to monitor the real-time knowledge of eBay sellers who apply for his or her companies, which the fintech startup says will allow it to evaluate credit score purposes inside three days, on common, and settle drawdown requests in lower than a day.

Founded in 2016 and primarily based in Hong Kong, Qupital raised a $15 million Series A final yr led by strategic investor CreditEase FinTech Investment Fund, with participation from Alibaba Hong Kong Entrepreneurs Fund and MindWorks Ventures.

Qupital is considered one of a rising roster of fintech firms in Asia—Aspire and First Circle are a pair different examples—that present loans, credit score strains and companies to on-line sellers, SMBs and different companies who typically have hassle acquiring working capital from conventional lenders like banks.

Read More:  Four perspectives: Will Apple trim App Store fees?

Instead of counting on monetary statements, these firms use knowledge analytics to evaluate creditworthiness. In QiaoYiDai’s case, this implies taking a look at “e-commerce statistics and large knowledge, together with the credibility of [applicants’] on-line retailers, historic transaction knowledge, ranking knowledge, refund and alternate charges of products, amongst a plethora of different knowledge factors,” Qupital mentioned in its announcement.

On common, Qiaoyidai offers a mean credit score restrict of $150,000, with a most credit score line of as much as $1.5 million for qualifying sellers.

More e-commerce distributors in China are turning to social media as their foremost channels for reaching patrons (for instance, Alibaba has partnerships with Weibo and Douyin and rival JD.com just lately struck a strategic partnership with Kuaishou, whereas TikTok started testing social commerce final yr), and having fast, built-in entry to financing instruments might persuade distributors to stay with legacy e-commerce platforms like eBay, particularly for cross-border sellers.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending