Hong Kong-based Fintech Fund Park It reportedly secured $250 million in private financing. HSBC.
The loan marks the second investment of this kind that Fundpark has received this year, Bloomberg said. report Monday (June 24th).
This comes from HSBC’s $3 billion “new economy” facility focused on technology and healthcare in Hong Kong and mainland China, it said. Hey YipHe is reportedly Fund Park’s chief strategy officer and chief of staff.
The bulk of the financing – $200 million – is coming from HSBC, with the rest from other partners. This follows another $250 million in financing from senior lenders. Goldman Sachs We also partnered with another company in January.
FundPark provides working capital primarily to small and medium-sized e-commerce businesses in China.
There Working Capital Revolution “What’s happening now is increasingly driven by innovation and made even more necessary by the macroeconomic backdrop, especially for mid-sized companies with annual revenues of $50 million to $1 billion,” PYMNTS wrote last month.
As more businesses seek and leverage external capital, today’s working capital solutions providing It provides the cash flow requirements needed to meet a business’s day-to-day needs, as well as the flexibility to scale and grow in the long term.
“With tightening monetary policy and inflationary pressures, many businesses suddenly found themselves in need of working capital for two reasons.” Chabi JafaHead of Commercial and Money Movement Solutions, Asia Pacific, visa“One is to secure short-term working capital. surely There is no disruption to our operations. And the second is strategic long-term investments in new technology and digital solutions.”
“in lots of Emerging economies, [we are seeing] “It’s a breakthrough in technology and digital-first solutions, and this segment of businesses is driving a lot of the growth of the digital economy, and they need working capital to invest,” Jafa added.
Compared to conventional Working Capital Solutions Today’s alternative financing such as overdrafts and working capital loans, e.g. Virtual CardIt is becoming increasingly important for organizations looking to achieve sustainable growth.
