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Qupital, the first online invoice financing platform in Hong Kong, said recently that it had completed $ 2 million in seed round financing, with leaders such as MindWorks Ventures and the Alibaba Entrepreneurs Fund.

With investors such as DRL Capital and the Hong Kong family office Aria Group, funds for the expansion of business and team, and open up the Southeast Asian countries market.

According to Qupital's statement, the company's two founders, Huang Yongdong and Chen Shengyuan, were "90", and during the study and work, they found that the market lacked an effective SME financing program, so they set up Qupital in March 2016 A platform for small and medium enterprises to convert accounts receivable into cash, access to the required liquidity, while professional investors to bring revenue.

Huang Yongdong pointed out that many companies are trading on credit, however, the general account of up to two or three months or more, caused by the turnover of SMEs pressure, especially for high demand for high season. Therefore, the market for fast and short-term financing program is a great demand.

"Moreover, traditional financial institutions tend to provide SMEs with medium and long-term loans or overdraft services, generally lack of flexibility, the amount is not enough, the need for collateral, complicated procedures or lengthy approval time, these factors have spawned Qupital." He said.

At present, Qupital in the export, manufacturing and distribution areas for small and medium enterprises to provide services, while actively looking for hedge funds, family offices and other mature professional investors for the project matching.

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