Bain Capital will provide up to $250 million in financing to FundPark, a Hong Kong fintech company that lends to small and medium-sized e-commerce businesses, to support the latter’s next phase of growth.
In a statement on Wednesday, FundPark said the package comprises an initial $100 million commitment and up to a further $150 million, subject to conditions.
FundPark said the financing would strengthen its institutional funding capacity for its technology-enabled platform. The company announced the deal as it passed $10 billion in cumulative financing lent to digital entrepreneurs.
Businesses on FundPark platform have generated more than $18 billion in merchant gross merchandise value. FundPark has supported more than 40,000 online shops across Asia and beyond. Its model as “Scale-Up as a Service” can combine AI-enabled funding, predictive data insights, and a community platform.
Hay Yip, FundPark’s chief strategy officer and chief of staff, said the company’s focus is on increasing that multiplier effect and helping entrepreneurs turn growth ambitions into commercial outcomes.
Michael Hui, a partner at Bain Capital, said backing local fintech innovators such as FundPark bridges institutional capital with the agility of small and medium-sized e-commerce businesses.
Andrew Schantz, another Bain Capital partner, said the firm seeks tailored and flexible capital solutions for high-quality businesses.
FundPark said it uses real-time operational signals from merchants’ sales, rather than traditional credit assessments alone, to decide how much funding to offer and when. The company said that capital is used for inventory, marketing, fulfilment and expansion.
Anson Suen, FundPark’s chief executive and co-founder, said the company’s milestones reflect the businesses it has supported. He said the company is marking its 10th anniversary, having been founded in Hong Kong in 2016.