Qupital, Hong Kong's first online invoice financing service provider, has formed a partnership with Alibaba.com, the leading wholesale marketplace for global trade, to strengthen its own invoice financing platform to facilitate trade for small and medium-sized enterprises (SMEs) in Hong Kong.
The collaboration with Alibaba.com unites the strength of the world's leading business-to-business e-marketplace with the city's largest online invoice financing service provider, enabling qualified Gold Supplier members of Alibaba.com to more easily free up working capital via Qupital's platform.
Following the tie-up, Alibaba.com Gold Supplier members applying for Qupital's invoice financing service can opt to have their applications fast-tracked by using their operations record with Alibaba.com as an evaluation factor. As a result, qualified Alibaba.com members can expect a faster turnaround for funding approvals and larger loan amounts.
In addition, Qupital's customers will also be able to enjoy select promotional offers from Alibaba.com to enhance their exposure to global buyers on the e-commerce platform.
"We are thrilled with the opportunity to extend Qupital's financing solution to our Hong Kong customers, and enable the use of our platform's insights to help ease their cash flow challenge," said Rick Ng, Business Director, Alibaba.com Hong Kong. "This collaboration will be a strong addition to the network of support services that we are building for our SME customers."
"This collaboration with Alibaba.com will greatly benefit Qupital and our customers, especially as a new, fast-growing fintech company," Winston Wong, Founder of Qupital, said. "SMEs will enjoy invaluable opportunities and convenience within the ecosystem we are building with Alibaba.com and our partners. As a result, our clients can expect a seamless user experience that leads them to more efficient day-to-day operations."