Founded to address the funding challenges faced by cross-border eCommerce sellers, FundPark leverages AI to offer faster access to working capital compared to traditional lenders.

The company has previously secured a US$750 million funding facility backed by Goldman Sachs and HSBC, supporting more than 32,000 online shops.

As of October 2025, FundPark has provided over US$6 billion in advances, representing a combined Gross Merchandise Value exceeding US$12.5 billion.

In this latest round, financing was provided by an Ares Management APAC Credit fund (Ares), alongside equity investment from Alpha Nova Capital Management and returning investor Radiant Tech Ventures.

The equity funding was advised by Goldman Sachs.

“Digital entrepreneurs today need to move faster than the pace of demand,”

said Anson Suen, CEO and co-founder of FundPark.

“You can lend a growing eCommerce business money, but if they don’t have the insights and know-how to scale, they can quickly hit barriers. That’s why we created Scale-Up as a Service, to combine capital with intelligence and guidance throughout the scale-up journey.”

The model integrates three elements: AI-driven dynamic funding, predictive insights to support business decisions, and a community platform for entrepreneurs.

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The investment reflects YZi Labs’ interest in supporting new financial systems that use stablecoins, operate on fast blockchains, and combine traditional and decentralised approaches to balance speed, flexibility, and regulatory compliance.

Many current fintech platforms require large sums of money to be held in local accounts in advance to make payments possible.

BPN’s system allows stablecoins to be created, exchanged, and removed in real time across countries, reducing the need to lock up capital.

Built on BNB Chain, BPN aims to settle cross-border payments within three to four hours, at a cost of about 0.3%, compared with around 2% through conventional foreign exchange channels.

BPN serves both businesses and licensed payment institutions through a regulated model, allowing transfers that meet KYC/KYB rules.

It already supports real-time conversions for several currencies, including Brazilian Real, Nigerian Naira, Mexican Peso, and Euro stablecoins.

By the end of the year, BPN plans to launch a decentralised model that lets anyone swap stablecoins and earn interest, without needing to provide identification, across up to 20 regional currencies.

The funds raised will be used to create initial liquidity pools for these stablecoin exchanges and to support a system that keeps exchange rates fair and stable.

“This multi-stablecoin liquidity model offers a more inclusive and efficient alternative to USD-focused payment systems, enabling smoother cross-border settlements for businesses worldwide,”

said Rica Fu, Founder of Better Payment Network.

“BPN was built on a simple belief, the future of cross-border payments is truly borderless. Our role is to connect issuers, merchants, and financial institutions in a single programmable network, where stablecoins become the standard for trust and settlement.”

“The founding team combines deep payments experience with Web2 and Web3 knowledge, and their approach is backed by a strong client pipeline. We’re excited to see blockchain make a practical impact, and BPN is leading the way,”

said Dana H., Investment Partner at YZi Labs.

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The Gobi-Redbird Innovation Fund (Gobi-RIF) is intended to support university-developed technologies in reaching international markets, linking academic research with industry applications.

As the second fund under the Redbird Innovation Fund (RIF) framework, Gobi-RIF targets four sectors: biotechnology, Industry 4.0, AI and robotics, and fintech.

The fund combines HKUST’s research capabilities with Gobi Partners’ experience in venture capital across 16 locations in Asia.

The initiative is backed by HKIC under its “Patient Capital Strategic Fund”, announced in May 2025.

HKIC, wholly owned by the HKSAR Government, seeks both financial return and contributions to Hong Kong’s long-term economic competitiveness.

The Gobi-RIF Fund has already identified ventures including Lymow, a developer of robotic lawn mowers for the North American market; Atom Semiconductor, a fabless design house specialising in analogue signal-chain integrated chips; and Stellerus Technology, a provider of space-grade satellite solutions using advanced AI meteorological technologies, all originating from HKUST.

Managed by Gobi Partners, the fund will use active investment strategies to support commercialisation in Hong Kong and the Greater Bay Area.

Edith Shih, HKUST Council Vice-Chairperson and RIF Chairperson, said:

“By harnessing our academic excellence and strategic funding mechanisms, we aim to advance global collaboration and drive transformative innovations that serve both local and international communities, solidifying Hong Kong’s role on the global stage.”

Thomas G. Tsao, Co-founder and Chairperson of Gobi, said:

“The trio of Hong Kong, Shenzhen, and Guangzhou were recently named as the world’s top innovation hub by the World Intellectual Property Organization (WIPO). Key to that was the number of venture capital deals, which means ideas are able to go from research projects to real-world products and services.”

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The company, which seeks to integrate life insurance with digital assets, has drawn significant interest from international investors.

The round was led by Yunfeng Financial Group, with participation from a range of strategic and financial investors specialising in insurance, asset management, and fintech innovation.

The funding marks a key milestone in Anthea’s effort to modernise life insurance for the digital economy.

The investment will support the launch of Anthea’s first life insurance product denominated in ETH, as well as ongoing operations, product development, and market expansion across Asia.

“This funding round is more than capital, it is a strategic alignment with partners who share our vision for the future of insurance,”

said Alex Pei, CEO of Anthea.

“The past few years have seen the rise of regulated and consumer-centric products and institutions in the digital asset space; it is now time to bring the right combination of innovation and protection to the market. We are delighted to welcome investors with decades of experience in traditional finance and a shared appetite for innovation.”

The new funding will strengthen Anthea’s efforts to incorporate global life insurance best practices into the digital asset ecosystem.

The company plans to enhance integration with blockchain-based payment infrastructure, enable yield generation, and pursue further technological development aimed at creating a seamless insurance experience for both digital asset holders and traditional investors seeking regulated exposure to the sector.

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The funding included new participation from Coinbase Ventures and a global technology entrepreneur, alongside increased commitments from Galaxy Ventures and Vertex Ventures.

With this milestone, RedotPay joins the ranks of fintech companies valued at over US$1 billion.

In March, the company secured a US$40 million Series A funding.

“Our mission has always been to make digital finance accessible, secure, and efficient for everyone,”

said Michael Gao, Co-Founder and Chief Executive of RedotPay.

“Having Coinbase Ventures join us, along with the continued support from Galaxy Ventures and Vertex Ventures, validates the progress we’ve made and the confidence investors have in our vision. Their global expertise across both crypto and fintech will help us accelerate growth, strengthen compliance, and expand access to the broader blockchain ecosystem worldwide.”

The company’s services include stablecoin-linked payment cards, multi-currency wallets, and global payout solutions.

These integrate stablecoin technology with existing payment networks.

According to RedotPay, this has contributed to its growth to more than 5 million users and an annualised total payments volume of US$10 billion within two years.

The firm has also sought to increase access to payment services in underserved regions.

RedotPay stated it will continue developing global payment corridors in collaboration with banks, payment networks, and other industry participants.

The company is also focusing on compliance and regulatory licensing as it expands internationally.

Founded in April 2023, RedotPay operates in more than 100 markets.

Its Global Payout feature, introduced in June 2025, enables users to transfer stablecoins and cryptocurrencies directly to local bank accounts or e-wallets, and has seen adoption in emerging markets including Latin America.

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Cheng, who stepped down as Chief Executive of New World Development in September 2024 after the company reported a record loss amid one of the city’s largest debt burdens, has since withdrawn from all family business positions, including at parent company Chow Tai Fook Enterprises.

In the same period, he acquired management rights to New World’s flagship retail brand, K11.

With ALMAD Group, Cheng is embarking on a new chapter that reflects his personal vision for growth beyond traditional property development.

“We are living in an era of profound change in the global economy, where new frontiers are emerging at an unprecedented pace,”

he said.

“From ideation two years ago, we have been determined to build ALMAD Group as a movement propelling this shift, investing in transformative industries in emerging markets such as ASEAN and the Middle East, while advancing globally in digital assets and cultural industries. Our mission is clear: to build what the next generation needs and to shape a future economy filled with possibilities.”

ALMAD Group will focus on opportunities in culture, entertainment, sport, media, healthcare, commercial management and cultural tourism, alongside initiatives in Web3 and digital assets, including real-world asset tokenisation and blockchain-based applications.

The Group also incorporates K11 by AC, Cheng’s cultural brand, which is expanding internationally.

Its Anime IP business, Experience 11, has recently grown in mainland China and the Middle East, while the Gentry Club, a private members’ concept centred on artisanal lifestyle, is being scaled.

Cheng has been an active investor in early-stage companies, with past successes including Xiaohongshu, XPeng Motors and Hong Kong-based Micro Connect.

He first launched K11 in 2008, introducing a cultural commerce model that integrates art, design and retail.

His leadership also oversaw Victoria Dockside, a US$2.6 billion art and cultural district in Hong Kong featuring K11 MUSEA.

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The facility, arranged by MUFG, is designed to provide capital to support EarnIn’s expanding range of products, including Live Pay, which allows workers to access their earnings in real time; Early Pay, which enables employees to receive their pay up to two days early regardless of their bank; and Cash Out, which permits workers to withdraw a portion of their earned wages before payday.

“This facility gives EarnIn greater flexibility to meet the growing demand for streaming pay,”

said Jacopo Lenzi, Chief Financial Officer at EarnIn.

“We’re grateful for MUFG’s partnership in structuring a solution aligned with our long-term vision, and their expertise will help us expand real-time access to earnings for more people.”

“Our partnership with EarnIn underscores MUFG’s strong commitment to delivering financial innovations that meet rising consumer demand and to companies reshaping the future of financial services,”

said Arthur Ng, Managing Director in MUFG’s Growth and Middle Market Technology team.

“We are excited to support EarnIn’s continued expansion and mission of improving financial wellness for millions of workers.”

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The round was co-led by Vision Plus Capital and Mirana Ventures, with participation from Legend Capital, HashKey Capital, Web3.com Ventures, and other institutional and individual investors.

The company said the funds will be used for system research and development, compliance infrastructure, and global market expansion, with a focus on its stablecoin-based cross-border payment network.

Obita is developing a blockchain-native payment framework called Obita Mesh, designed to reduce foreign exchange costs, improve settlement speed, and enhance fund flow transparency.

The firm is initially targeting high-growth markets in Southeast Asia, Central Asia, Africa, and Latin America.

“Cross-border payments are at a tipping point driven by stablecoin innovation,”

said Dayong Zhang, Co-founder and Chief Executive of Obita.

“We aim to integrate blockchain technology’s potential into real-world global capital flows through enterprise-grade, compliant, and secure services.”

“Cross-border B2B payment is a crucial infrastructure for global trade. Obita’s stablecoin-centred solution significantly improves cost efficiency,” said Yiran Liu, Managing Partner at Vision Plus Capital.

Obita’s leadership team has backgrounds in fintech, digital assets, and cross-border payments.

Zhang was previously Chief Commercial Officer of HashKey Group, Chief Executive of HashKey Onchain BG, and Executive Director at RD Technologies.

He also held senior roles at Ant Group, leading digital wallet development and expanding its international payment network.

Co-founder and Chief Business Officer Vincent Yang previously founded abComo and anyStarr, co-founded Longbridge Securities, and worked on international business development for AliExpress and Ant Financial.

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The new capital will be used to develop its next generation Solar language model, advance its document AI products, and support market expansion in Asia Pacific and the US.

The funding will also strengthen research and development to improve Solar’s capabilities and broaden enterprise applications, including document parsing, automated task execution and workflow management.

Upstage recently entered a strategic collaboration with Amazon Web Services (AWS), designating AWS as its preferred cloud provider.

The partnership involves building and deploying foundation models using AWS infrastructure, such as SageMaker and AWS Trainium and Inferentia chips.

Upstage is targeting inefficiencies in industries such as insurance, where claims adjudication costs in the US reached US$25.7 billion, with US$18 billion linked to overturned denials and unnecessary review cycles.

Many of these issues stem from manual processes and outdated systems.

Insurance is the company’s first global vertical, focusing on areas such as claims processing and broker submissions.

Central to this strategy is the Document Intelligence suite, which includes Document Parse, designed to transform unstructured documents into structured formats for large language models, and Information Extract, which identifies key data points from text.

The platform processes a wide range of documents with reported accuracy above 95%, reducing manual input, processing times and enabling more automated decisions.

Unlike conventional optical character recognition tools that only extract static fields, Upstage’s approach interprets documents in context, considering layout and meaning to deliver structured outputs suitable for operational use.

“This is a pivotal moment not just for Upstage, but for the future of generative AI in the enterprise,”

said Sung Kim, Co-Founder and Chief Executive of Upstage.

“The next phase of AI is about performance, precision, and readiness for real world complexity. That is exactly what we have built with our suite. Our collaboration with AWS brings scale, credibility, and deep technical alignment, all critical as we deliver production ready AI from day one in high stakes sectors like commercial and public sector insurance.”

Upstage’s Solar LLM, a family of proprietary small language models trained with Amazon SageMaker and available in the Amazon Bedrock Marketplace, underpins its wider generative AI platform.

The company also offers its Universal Information Extractor through the AWS AI Agents and Tools Marketplace.

Its models are already in use by Fortune 500 companies such as Samsung and are widely adopted by Korean insurance firms, as well as public sector and government institutions.

The new funding will also support recruitment in sales and marketing and international growth.

Upstage was recently named to the CB Insights AI 100 list, selected from thousands of global applicants.

The bridge round follows its US$72 million Series B announced in 2024, which was led by Korean investors including SK Networks and Shinhan Venture Investment.

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The funding will support PAObank’s ongoing efforts to enhance product development and strengthen its technological infrastructure, with a focus on further expanding its retail banking services.

“This investment reflects our shareholders’ confidence in the promising prospects of digital bank,”

said Ronald Iu, Chief Executive and Executive Director of PAObank.

“PAObank will continue optimising our product and user experience, bringing efficient and flexible banking solutions to our customers.”

As the digital bank marks its fifth anniversary, PAObank is entering a new phase of its business strategy.

Having established a foundation in SME banking services, the bank is now placing greater emphasis on the growth of its retail banking segment.

Earlier this year, PAObank launched an insurance offering in March, followed by the introduction of new services such as currency exchange and foreign currency savings accounts.

These additions aim to broaden the bank’s product portfolio and improve accessibility to financial services.

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