Xavier Kong · · 1 min readHong Kong-based SME lender secures $250m debt facility
Hong Kong-based FundPark has secured an asset-backed securitization facility of up to US$250 million, with Goldman Sachs as the senior facility provider.
Image credit: FundPark’s Twitter
Integrated Alternative Credit Fund and Cypress Capital Hong Kong Limited also joined in as mezzanine investors.
FundPark operates a proprietary platform that provides merchants – mainly cross-border ecommerce SMEs – with access to additional working capital.
Since its establishment in 2016, the company has supported SMEs, with a combined gross merchandise value of over US$4 billion, through loan advancements of more than US$600 million, the company said.
FundPark is looking to raise a series B round later in 2022, it said in a statement.
The current fundraise also marks the next step in the company’s growth plan, in which it aims to diversify its capital base and ensure the competitiveness of the cost of capital.
See also: Meet the 50 top-funded startups and tech companies in Hong Kong
Editing by Miguel Cordon and Jaclyn Tiu
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