Qupital Raises $300 Million to Fuel Overseas Growth, Explore IPO

Hong Kong-based Qupital provides data-driven trade financing to cross-border e-commerce merchants selling through marketplaces including Amazon, TikTok Shop, Tmall and JD.com. Its automated underwriting system uses real-time sales and operating data to assess borrowers, targeting a liquidity gap faced by small and midsize online sellers. The model has gained relevance as global e-commerce growth increases demand for faster, more flexible working capital.

Qupital said on Sept. 14, 2026, it secured $300 million in new capital commitments, combining a Series C round led by M Capital with asset-backed securities financing from Mitsubishi UFJ Financial Group and Quester Capital. The company has processed more than $9.5 billion in cumulative loans and posted profits for two consecutive years. It plans to expand financing in China, the US, Japan and Southeast Asia, enhance its AI risk engine and explore an IPO, while targeting a profit margin above 45% within 12 months.