IPO News | FundPark: It is planning to carry out Series C financing and is considering listing, but there is no schedule

Zhitong Finance App learned that Sun Huilai, co-founder and chief executive director of FundPark, a technology company with an innovative blueprint, said at the media luncheon that the company has been in business for 10 years and has recorded profits as early as 2024. Therefore, in addition to Hong Kong, it is considering entering the US market. If it finds a suitable partner and location, it will open a local office, but it is currently only in the research stage. In addition, Mo Zhaojie, co-founder of FundPark and president in China, said that the company completed Series B financing earlier and is planning to carry out Series C financing. Sun Huilai pointed out that the next round of financing will account for a larger share ratio. He also said that with the further development of the company's business, there are indeed plans to consider listing, but there is currently no schedule.

FundPark announced today that it has reached the first asset-backed securitization (ABS) financing cooperation with Citigroup (C.US). With Citigroup joining as a partner, FundPark's total ABS financing volume has exceeded US$1.25 billion.

Sun Huilai said that Goldman Sachs, HSBC and Citibank account for the majority of the total amount of US$1.25 billion. Among them, Goldman Sachs and HSBC have both increased their quotas, and FundPark is currently also negotiating ABS financing cooperation with other institutions.

Sun Huilai said that FundPark has supported more than 40,000 SMEs to help them meet the challenges of cross-border trade through AI-driven dynamic financing, forward-looking insights and growth support services. The total amount of loans disbursed has exceeded 9 billion US dollars. Most of our customers are Hong Kong registered companies. He said that in the 10 years since the company was founded, it is true that the number of customers has gradually grown. In the beginning, they obtained capital development through FundPark, but now they are able to raise capital through equity financing.

He said that FundPark currently has more than 200 employees, of which about 100 are in the Shenzhen office, mainly working at the technical level.