Citi has committed up to $250M to FundPark’s asset-backed securitisation program as senior lender, pushing the Hong Kong fintech’s total ABS capacity past $1.25B. The commitment adds one of the world’s largest banks to FundPark’s roster of institutional funding partners.
FundPark lends working capital to small and medium-sized e-commerce businesses that sell across borders, using data-driven credit assessment rather than traditional collateral. Chief executive Anson Suen, who co-founded the company, said surpassing $1.25B in ABS capacity marks a milestone for the firm’s “scale up as a service” model.
Citi’s head of asset-backed financing and securitisation for Asia outside India, Ting Guo, said the facility attacks the funding gap facing high-growth SMEs as digital commerce globalizes. FundPark says it has supported more than 40,000 SMEs over the past decade and facilitated over $9B in funding.
The deal continues FundPark’s run of blue-chip ABS partners. HSBC previously backed the program, and the new Citi tranche extends the platform that funds inventory and receivables for merchants on marketplaces across Asia.
For Citi, the transaction deepens its structured-finance work in the digital economy, an area banks increasingly court as cross-border e-commerce keeps compounding.
