FundPark Secures $250m HSBC-led Loan

FundPark, a Hong Kong-based lender, has obtained a $250 million three-year private loan from HSBC, boosting its total funding capacity to $750 million. HSBC is the senior provider for this asset-backed security (ABS) financing, marking FundPark’s second ABS investment this year.

In January, FundPark announced that Goldman Sachs had doubled its ABS facility to $500 million, building on the $250 million provided in April 2022.

The new funding, announced in a company LinkedIn post, will support e-commerce entrepreneurs, particularly in the digital small and medium-sized enterprises (SMEs) sector in the Greater China market. HSBC will supply up to $200 million of this facility, as part of its $3 billion fund focused on healthcare and technology in mainland China and Hong Kong.

“With this facility, we aim to continue expanding our footprint in the digital SMEs sector in Greater China,” said Hay Yip, FundPark’s chief of staff and chief strategy officer, in an interview with Bloomberg.

Founded in 2016, FundPark has provided over $2 billion in funding to fintech start-ups, helping them bridge their needs to growth.