Hong Kong-based FundPark, a fintech lender that provides financing for ecommerce businesses, said on September 2 that Citi committed up to US$250 million as a senior lender in an asset-backed securitisation facility, bringing FundPark’s ABS funding capacity to more than US$1.25 billion.

FundPark said Citi is joining its existing funding partners, giving the company a funding base backed by three global financial institutions.

The facility will support small and medium-sized businesses involved in global trade and digital commerce.

The company said it has supported more than 40,000 SMEs over the past decade and facilitated over US$9 billion in funding globally.

Citi has previously highlighted its Asia Pacific trade-finance franchise and digital supply-chain capabilities.

Research suggests fintech lenders focused on SMEs increasingly use securitisation and other institutional funding channels to expand lending.

🔗 Source: FundPark

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