Dowsure secures multi-million dollar ABL from HSBC for transforming cross-border e-commerce
Dowsure Technologies, a leader in digital API platforms for cross-border e-commerce, announced today that it has secured a multi-million-dollar Asset-Backed Loan (ABL) from HSBC. This comes on the heels of a strategic investment made by HSBC Ventures in July 2023. HSBC has acted as the sole Arranger, Original Lender, Facility Agent, Security Agent, and Account Bank for this pioneering revolving ABL facility. The loan aims to bolster Dowsure’s offshore business growth ambitions, marking the first-ever ABL facility in the cross-border e-commerce sector under HSBC’s New Economy Fund.
Customized Funding Solution by HSBC
The asset-backed loan facility was customized by HSBC and provided to Hong Kong Credit Services Limited (HKCSL), a wholly-owned subsidiary of Dowsure. This loan is backed by receivables originated by HKCSL to cross-border sellers, offering flexibility and alignment with Dowsure’s portfolio growth strategy. This innovative financial structure aims to maximize cash utilization efficiency, fully committed at closing but also adaptable for future drawdowns.
Leaders Comment on Strategic Collaboration
Byron Pei, Founder and CEO of Dowsure Technologies, highlighted the benefits of the ABL for the cross-border e-commerce industry, stating, “This innovatively structured ABL from HSBC will enable Dowsure to provide support for more SMEs in cross-border e-commerce exports. This enhances our partnership with HSBC and marks a new breakthrough in Dowsure’s financing model.”
Thomas Elliott, Managing Director at HSBC, echoed the sentiment, emphasizing how the facility provides additional capital to grow Dowsure’s loan portfolio, especially across Greater China.
Dowsure’s Track Record in E-Commerce Financing
As a global API platform leader in cross-border e-commerce, Dowsure has a history of collaborating with financial institutions to provide fast, convenient, and safe funding solutions. Over the years, the company has invested millions in supply chain finance platform R&D and has partnered with giants like Amazon, eBay, Meta, and Shopee. With advanced models and algorithms, Dowsure has effectively served more than 20,000 cross-border sellers and facilitated more than RMB 3 billion in financing.
A New Milestone for Dowsure and the Industry
This ABL is more than just a financial transaction; it’s a significant milestone for Dowsure and the cross-border e-commerce sector. Through this collaboration with HSBC, Dowsure is now positioned to accelerate industry development, offering unprecedented support to SMEs and service providers. This deal solidifies Dowsure’s role as a pioneering force in transforming the financing landscape of the cross-border e-commerce industry.