HSBC has led a $250 million financing deal into Hong Kong FinTech FundPark.
The company provides financing for SMEs throughout Hong Kong and mainland China, mainly focusing on the e-commerce industry. It provides order financing and invoice financing to help firms maintain their cash flow.
The new capital is set to come from HSBC’s $3 billion “new economy” fund, which focuses on technology and healthcare deals in Hong Kong and mainland China.
HSBC is set to provide $200 million of the financing, which will come in the form of a three-year private loan, while the rest will come from other firms.
The latest deal follows Goldman Sachs leading another financing deal worth roughly $250 million in January 2024.
This brings FundPark’s total capital raised so far to $750m.
Frank Fang, General Manager, head of commercial banking, Hong Kong and Macau of HSBC, said, “We are pleased to mark the first milestone of our strategic alliance with HKSTP in under three months after its inception.
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