Qupital

Qupital

Qupital is a financial technology company founded by Andy Chan.

Qupital is a Hong Kong-based company that operates a trade finance technology platform that matches businesses and institutional investors to provide working capital to businesses. In other words, an accounts receivable trading platform.

Services

Small and medium-sized enterprises are able to upload their unpaid invoices onto Qupital platform and receive an advance of up to 95% of their invoice value immediately. Investors are able to bid on these receivables and earn a short term yield.

History

Qupital is based in Hong Kong and was founded by Andy Chan and Winston Wong in March 2016. The platform launched online in Hong Kong in August 2016. In April 2017, Qupital raised a US$2 million seed round led by MindWorks Ventures and Alibaba Group under Alibaba Hong Kong Entrepreneurs Fund. Qupital has plans to expand into Taiwan and Southeast Asia, and has received over $20 million Hong Kong dollars (US$2.5 million) from their investors. Together with 7 other startups, Qupital was listed as "8 Fintech Startups in Hong Kong to watch in 2018" by Fintech News Hong Kong It was awarded as the "Outstanding SME Financial Platform" in FinTech Awards 2017. In March 2018, Qupital announced the collaboration with Alibaba.com to offer faster track to the Gold Supplier members.

Timeline

March 2019

Qupital raises a $15,000,000 series A round from Creditease, Alibaba Entrepreneurs Fund, CreditEase Fintech Investment Fund, MindWorks Ventures and Alibaba Group.

May 2017

Qupital raises a $2,000,000 seed round from The Aria Group, MindWorks Ventures, Alibaba Entrepreneurs Fund and DRL Capital.

People

Name
Role
LinkedIn

Andy Chan

Founder

Angie Wong

Employee

Titus Kwok

Employee

Wayne Chu

Investor

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Golden logo
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