FundPark launches USD financing solution 'Trade Asset Based Finance' to accelerate Export e-Commerce development

• FundPark launches USD financing solution "Trade Asset Based Finance" to accelerate Export e-Commerce development

HONG KONG, 7 July, 2021 - Asia's online trade finance platform, FundPark Limited (“FundPark”), has officially launched earlier this year a financing solution - Trade Asset Based Solution - dedicated to Export e-Commerce merchants with large USD financing needs. Borrowing up to USD 10 million, e-Commerce merchants on Amazon can gain easy access to a sizable, uncollateralized revolving loan to propel the growth of their business.

Backed by FundPark's latest online financial technology, the trade finance platform also enables investors such as banks, organizations, and institutional investors to provide merchants with quality capital. Capital stability and strong risk analytics forms a solid base for FundPark which is widely recognised by reputable global and Chinese organisations. Following the Trade Asset Based Solution launched in conjunction with Cainiao Smart Logistics Network, a Chinese logistics company under Alibaba Group, and Bank in mainland China for Import e-Commerce merchants, Trade Asset Based Solution for Amazon merchants is launched in collaboration with two mainstream Amazon approved Payment Service Providers. These partnerships are testaments to FundPark's reputation and capabilities.

Traditional financial institutions typically rely on historical financial performance and tangible collaterals for underwriting, making it extremely difficult for e-Commerce merchants to obtain financing, given their light assets and short tenured nature. With extensive understanding into the e-Commerce industry, FundPark’s Trade Asset Based Solution addresses the above-mentioned problems. Assessment and monitoring based on real time data from Amazon and Payment gateway provides timely insights on the merchant's position. Partnership with Amazon approved Payment Service Providers provides FundPark insights and controls over the merchant's proceeds.

This USD 10 million uncollateralized revolving working capital loan as low as 8% APR provides quick assessment, and easy onboarding that can help propel the growth of their business. Loan tenors are as long as 90 days to facilitate the working capital needs of the merchants. Application to onboarding within 5 working days, with funds disbursed within the same day.

The investors of FundPark's platform include professional institutional investors, such as global fixed income funds, asset management firms, family offices and banks. FundPark’s partners ensure the stability and availability of liquidity for the new loan facility to e-commerce merchants.

Apart from developing financial technology solutions and offering financing services, FundPark is committed to strengthening connections between the markets of Hong Kong and Mainland China. The company is now striving to go global and promote e-Commerce development through creating a win-win ecosystem for e-Commerce merchants and investors. Over the past few years, FundPark has received recognitions from institutional investors for its products and services. In 2019, FundPark received the Innovation and Technology Venture Fund (ITVF) from the Hong Kong Government and support from its partnering venture capital funds, contributing to the rapid growth of FundPark's business. In effort to secure reliable capital for e-Commerce merchants, FundPark issued its first note in 2020, and has since successfully issued over USD 10 million. The issuance not only creates an alternative innovative investment opportunity for institutional investors, it also reinforces FundPark's determination in achieving even more in the e-commerce industry.

“E-commerce payment businesses have been booming amid COVID-19. But some SMEs are losing out on potential opportunities because of the lack of capital to facilitate them through their cash conversion cycle. A quick, uncollateralized Trade Asset Based Solution will provide businesses with the funds needed to capture those opportunities and grow their business,” Anson Suen, Co-founder and CEO of FundPark said. “We have been working with institutional investors since 2018. Last year, we launched a trade finance solution jointly with Cainiao Smart Logistics Network and major banks in mainland China. Looking into the future, we will continue to drive the growth of supply chain financial services with our financial solutions and create a robust ecosystem for investors and our customers.

FundPark will continue to develop financial technology solutions based on market needs and improve capital flow by providing the latest trade finance solutions to e-commerce merchants. Amazon is an entry point for Trade Asset Based Solution for Export e-Commerce. FundPark will continue to expand their solutions to more Export e-Commerce platforms going forward. The company is committed to open up new opportunities for investors and support the development of e-Commerce.