FundPark, a trailblazing FinTech company specialising in empowering digital entrepreneurs, has successfully closed an impressive asset-backed securitisation facility amounting to $500m.
The prominent financial institution Goldman Sachs played a pivotal role in this financial venture, acting as the senior lender and the arranger for the deal, according to a report from IBS Intelligence.
FundPark is renowned for its innovative approach in the financial industry, particularly in leveraging artificial intelligence (AI), sophisticated data analysis, and a robust risk-management platform. These tools are instrumental in helping small and medium-sized eCommerce businesses secure working capital loans.
The new facility is a significant leap from the previous one, doubling an existing facility secured by FundPark in April 2022. With this considerable increase in financial capital, FundPark is set to scale its operations substantially. The company aims to extend its support to a broader spectrum of entrepreneurs, focusing especially on the burgeoning Asian cross-border eCommerce market.
Reflecting on this milestone, FundPark CEO and co-founder Anson Suen expressed his vision for the company, “Our mission is to help digital entrepreneurs realise their growth potential and build prosperity. Doubling the original facility serves as a powerful boost, enabling us to support more entrepreneurs, especially in Asia, and accelerate our expansion plans. This year will be exciting for FundPark as we continue to execute our strategy to evolve our funding base, product offering, and technology, as well as further scale our operations.”
Nicola Dondi, a Managing Director at Goldman Sachs, also shared his thoughts on the deal, “In the fastest-growing region in the world, Asia’s cross-border eCommerce market shows promise. This asset-backed securitization facility provides FundPark’s platform with the ability to provide small to medium-sized enterprises with the capital required to bridge both immediate and future growth needs. We are focused on providing leading companies with financing to achieve their goals and potential.”
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