Qupital, the Hong Kong company providing working capital to e-commerce merchants, has announced $300 million in combined financing commitments. Its business turns sellers’ trading records into credit assessments.
A merchant starts by submitting business information and connecting online shops to Qupital. The company’s application system then processes the information for a credit assessment. Qupital says funding can arrive within 24 hours after that assessment is complete. Its published application requirements include a Hong Kong business entity and permission to access marketplace performance data.
The borrowing terms offer different ways to manage repayment. Qupital lists loans repaid in a single payment at maturity and an installment option with 13 repayments. Interest varies with eligibility, while potential borrowing amounts depend on the merchant’s platforms and average settlements. Connecting shops can help a seller qualify for a higher credit limit, according to the company.
Qupital also supplies the investment platform behind those advances. Its investor documentation describes approved merchant loans being listed for purchase by professional investors, who can review merchant information and risk assessments before choosing assets. A separate application tracks purchased loans and available investments. That makes the business a connection between merchants seeking cash and investors selecting short-term credit exposures.
The financing combines an M Capital-led Series C with additional asset-backed securities commitments from MUFG and Quester Capital. Qupital did not disclose the split. Its release, dated September 13, describes an IPO as an option it is exploring.
Qupital says it has processed more than $9.5 billion in cumulative loans and served tens of thousands of enterprises. Planned lending expansion spans China, the United States, Japan and Southeast Asia. The operational question is whether its merchant-data underwriting can support that broader reach while keeping credit performance consistent.