Qupital raised $300 million in combined financing, made up of a Series C led by M Capital, an Asian asset manager, plus asset-backed commitments from MUFG and Quester Capital, without saying how the total splits between equity and debt. The Hong Kong company lends to cross-border e-commerce sellers and underwrites them off their sales and operating data on Amazon, TikTok Shop, Tmall and JD.com. Qupital says it has lent more than $9.5 billion so far, has been profitable for two years, and expects margins above 45% within a year. The money goes toward more lending capacity in China, the US, Japan and Southeast Asia, and the company says it’s weighing acquisitions and an eventual IPO.
