FundPark, a Hong Kong-based fintech firm, has announced it has surpassed $3 billion in total capital deployed to support underserved entrepreneurs and digital businesses.
This marks another significant milestone in FundPark’s mission to support small-to-medium sized cross-border eCommerce enterprises grow their businesses through working capital loans and data insights, the firm said in a statement on Monday.
Looking ahead, the firm also plans to scale overseas, reinforcing its status as a leading fintech scale-up with both regional and international ambitions.
The firm has expanded its footprint in Greater China, including a greater presence in Shenzhen with their new office, demonstrating its long-term commitment and confidence in the market.
These developments positions the firm to better serve digital entrepreneurs across the region.
By harnessing its artificial intelligence (AI)-empowered data analysis and its proprietary risk-management platform, FundPark offers dynamic loan facilities that are in sync with underlying growth needs, improving financial inclusion for small businesses and bridging the world’s increasing $2.5 trillion trade finance gap.
Furthermore, by leveraging data from its strategic partnerships with online sales platforms and other sources, the platform provides entrepreneurs with predictive insights and analysis to help them optimise their business.
It is noted that entrepreneurs often face challenges securing timely working capital finance from traditional providers, impacting their ability to meet market demand and grow their business.
FundPark addresses this through its unique business model which connects capital from financial institutions with the financing needs of entrepreneurs.
Through financing deals with the likes of Goldman Sachs and HSBC, FundPark has one of the largest facilities of its kind at over $750 million.
The company has achieved this latest milestone just ten months after FundPark crossed the $2 billion mark in January 2024.
This reflects the growing demand for its services and Greater China’s expanding eCommerce sector, which witnessed a growth rate of 9.6 percent in early 2024, said the statement.
“Our mission has always been to make working capital work for digital entrepreneurs by bridging the financing gap they face every day,” said Anson Suen, Chief Executive Officer and Co-founder of FundPark.
According to him, the speed in which they have deployed $1 billion this year to help these businesses is symbolic of the scalable platform they have developed, coupled with their robust track record and strong market demand.
“As we look ahead, the cross-border eCommerce market particularly in Asia continues to grow at pace, paving the way for FundPark to play an even greater role in helping entrepreneurs grow and contribute to their local communities,” he added.
FundPark also said the firm is committed to supporting entrepreneurs and delivering a tangible impact.
FundPark is a fintech scale-up supporting fast growth digital entrepreneurs by delivering insights and capital to bridge their needs to growth.
This is enabled by its proprietary credit model and AI technology, enabling it to harness real time data from its global ecosystem of partners including Amazon, eBay, Tmall and Walmart.
Founded in 2016 in Hong Kong, the firm has grown substantially, providing over $3 billion in working capital funding and supporting over 17,000 shops in the cross-border eCommerce sector.
Hong Kong fintech firm FundPark secures $250M in loan led by HSBC