FundPark Collaborates with Cainiao and Chinese Local Bank in Promoting Digitalisation of Supply Chain Financing

FundPark Collaborates with Cainiao and Chinese Local Bank in Promoting Digitalisation of Supply Chain Financing “One-click” Financing for Cross-border E-commerce Merchants Significantly Speeds up the Credit Loan Approval Process [Hong Kong, 22 June 2020] - FundPark Limited (“FundPark”), Hong Kong’s leading online trade finance platform formed a tripartite cross-border collaboration with Cainiao Smart Logistics Network Limited (“Cainiao”) and a Chinese domestic bank, creating an unconventional cooperative model. Through FundPark’s online platform, the bank can simplify the evaluation process of the loan applications for Cainiao e-commerce merchants. The entire approval process can be completed in seconds and funds can be dispatched within one business day. The bank will provide a credit limit of RMB 2 billion (equivalent to HKD 2.17 billion). Cainiao’s technological risk management capabilities, combined with its international cross-border logistics and warehouse management will enable the bank to apply its risk evaluation model and upgrade its credit management system, increasing its speed and efficiency. Cainiao’s merchants will not have to undergo any offline processes or provide any collaterals, nor provide financial statements or guarantees. With just a few simple steps, merchants can obtain millions of Hong Kong Dollars of credit loan. “As the first accredited FinTech company collaborating with Cainiao and a Chinese domestic bank, FundPark is optimistic towards the outlook of our cooperation. It is estimated that the credit limit will exceed HKD 10 billion for the first year. We hope the launch of this cooperation will encourage the digitalisation of trade financing in e-commerce,” said Mr. Anson Suen, Chief Executive Officer of FundPark. “Digital financing solutions with the aid of API has already been a major market trend. We have been working closely with FundPark for about 1.5 years. Our solutions are highly acclaimed by peers and clients alike. By digitizing trade finance, we provide merchants with a more convenient and faster solution,” Mr. Zhao Wei, Financing and Logistics General Manager of Cainiao. Cainiao’s supply chain provides one-stop services for overseas merchants entering China, including overseas pickup, warehousing, customs clearance and domestic distribution, etc. Throughout 2020, Cainiao’s supply chain applied various cost-reduction measures and exemption measures. It is expected to make a profit of RMB 1 billion (about HKD 1.09 billion) for merchants, while logistics processes have been accelerated by 10 percent. Additionally, the global pandemic has sped up the development for e-commerce. According to data from the eMarketer report in 2019, the global e-commerce market has reached HKD 27 trillion with China accounting for more than 50 percent of global market share. E-commerce platform will be a key business partner for FundPark. “FundPark has successfully processed transactions in billions of Hong Kong Dollars. In order to meet business demands and keep pace with customer needs, the company has been increasing its number of employees stably since its establishment in 2016. With offices set up in Mainland China and Taiwan, the company is also actively expanding in the two markets,” said Mr. Anson Suen. “We will continue to provide more diverse and flexible digital trade financing solutions to benefit our e-commerce customers.” – End – About FundPark Founded in 2016, FundPark is a trusted online trade finance platform in Asia striving to provide simple and effective solutions with innovative financial technologies to help corporates transform invoices and purchase orders into cash and improve corporate’s cashflow sufficiency. FundPark provides different supply chain financing solutions to corporates and innovative investment opportunities for institutional investors, commercial banks and other financial institutions. With its proprietary risk assessment model, FundPark is able to process applications quickly, dispatching funds as rapidly as one business day. About Cainiao Established in 2013, Cainiao Smart Logistics Network Limited (“Cainiao”) is a smart logistics company launched by Alibaba Group. Cainiao is committed to fulfilling Alibaba Group’s vision in logistics – Guaranteed delivery within 24 hours domestically, and within 72 hours internationally. Cainiao leverages its global logistical network – owned and that of partners – to fulfil the needs of merchants and customers.