Hong Kong Fintech Startup FundPark Receives US$500 Million from Goldman Sachs

FundPark, a Hong Kong-based fintech start-up, has secured a US$500 million lending facility from Goldman Sachs to help finance trade for small and medium-sized businesses. CEO Anson Suen Wai-loi stated that the investment will support SMEs with trade finance needs and expand into new markets through technology and data insights.

FundPark, founded in 2016, has channeled US$2 billion to 16,500 SMEs in the cross-border e-commerce industry. The company offers loans secured by SMEs' cash flows, inventories, or receivables, using a unique AI-driven credit model to evaluate and serve borrowers.

The additional capital will enable FundPark to continue supporting digital SMEs, investing in data analytics and technology, and expanding into new markets such as Southeast Asia, Europe, the US, and Greater China. The company aims to further collaborate with logistics providers and e-commerce giants to address the trade financing gap for SMEs.

FundPark's CEO foresees the trade financing sector expanding as more operations move online, leveraging digital footprint and AI to access and process data swiftly, supporting SME clients' growth and scalability. The company's focus on serving underrepresented SMEs and providing value-added data insights sets it apart in the fintech industry.