Choco Up has launched a US$30 million private credit facility in partnership with tech-driven credit specialist CHUAN to provide faster and more reliable financing for SMEs across Asia Pacific.
The Choco Up credit facility aims to automate the delivery of working capital to match the operational cycles of small businesses.
The first drawdown from the facility has already been completed, marking the start of its deployment across the region.
The partnership combines CHUAN’s access to institutional capital with Choco Up’s data-driven credit assessment.
This enables funding approvals in as little as a few hours, compared with traditional lending timelines that can reach six months.
By combining Choco Up’s AI-driven credit assessment and real-time data with CHUAN’s investor-facing infrastructure, the partnership is intended to give capital providers near real-time visibility into the performance of the underlying assets.
This is aimed at improving transparency and the investability of this asset class.
“SMEs today don’t just need access to capital. They need financing that keeps pace with how their businesses operate.
We’re excited to partner with CHUAN to provide disciplined, transparent, and carefully managed capital, helping businesses continue to grow and innovate even when traditional lending options are limited.”
said Percy Hung, CEO and Founder of Choco Up.
Choco Up has enabled over US$1 billion in gross merchandise value to date through its flexible financing model.
CHUAN brings capital markets expertise, a global investor network, and infrastructure to aggregate and distribute diversified credit opportunities within the digital economy.
Featured image: (From left) Leaders from CHUAN (Lin Tun, Founding Partner and Chief Investment Officer, and Kevin Yung, Partner and Chief Financial Officer), and Choco Up (Heng Tam, Vice President, and Percy Hung, CEO and Founder)
