FundPark secures US$250 million to bridge Asian SME’s working capital needs, with Goldman Sachs as senior facility provider
Wednesday, April 20, 2022
(Press Release) – FundPark, Asia's eCommerce liquidity solution and technology provider, has announced the closing of an asset-backed securitization (ABS) facility of up to US$250 million with Goldman Sachs as senior facility provider.
Through this ABS facility, FundPark's proprietary platform will serve to bridge the working capital finance needs of small to medium-sized enterprises (SMEs) engaging in cross-border eCommerce business.
Anson Suen, CEO and co-founder, FundPark, said "We are delighted to secure a landmark deal with Goldman Sachs for an ABS facility. Integrated Alternative Credit Fund and Cypress Capital Hong Kong Limited also participated as Mezzanine Investors. We believe this is a testament to our strategic vision at FundPark of supporting SMEs in the eCommerce sector, by leveraging our proprietary risk assessment model and our market leading position in this space. This facility will also underpin the continued exponential growth we have planned for FundPark by diversifying our capital base and ensuring competitiveness of our cost of capital."
