FundPark, a Hong Kong-based fintech platform, is raising funds to help bridge the US$1.7 trillion global financing gap for small and medium enterprises (SMEs). FundPark provides SMEs with multiple financing options for working capital without collateral requirements, and can finance up to 70% of the purchase order or contract value. Neat, another fintech company founded by three University of Hong Kong alumni, is also helping to bridge the US$1.7 trillion trade-finance gap by providing SMEs with access to trade finance. Neat has already raised US$250 million in April last year and is now planning a new round of funding to further expand its services. Both FundPark and Neat are providing much-needed solutions to the SME financing gap.
FundPark is a Hong Kong-based fintech company that provides financing solutions to merchants. Founded in 2016, it has supported over 7,000 merchants with a combined gross merchandise value of over US$4 billion. FundPark offers a range of services, including merchant cash advances, invoice financing, and working capital loans, to help businesses grow and succeed. The Hong Kong Science and Technology Parks provided support and helped the company make connections with the right people. To help tech start-ups in Hong Kong, the government could provide a list of departmental pain points for start-ups to peruse and find opportunities to demonstrate their worth. This would enable start-ups to identify areas where their research could be applied and create solutions to address the issues, while also providing the government with a better understanding of the potential of start-ups.