Choco Up is a revenue based financing (RBF) firm that provides startups with non-dilutive funding and a flexible repayment schedule. We were created by founders for founders and hope to provide financial support to companies we believe deserve to thrive. As founders ourselves, we realize that there is a huge vacuum of promising, rapidly scaling, but underfinanced startups in the Asia Pacific. We believe our product can provide a solution to this situation, allowing ‘new economy businesses’ that are asset lite and tech-driven, to grow without having to exchange equity for capital.
About our founders
Percy Hung, co-founder and CEO of Choco Up, is a serial entrepreneur that understands startup needs. He started his first company back in 2009, and over the next decade, has worked on multiple startups with co-founder Brian Tsang before founding Choco Up. During his long journey as an entrepreneur, Percy realized that there exists a US$4 trillion funding gap, with many startups unable to raise capital due to the rigid, financial ecosystem in which they were founded. The complex, regulatory environments established by traditional financial institutions, such as banks, makes it difficult for tech-driven startups to raise growth capital.
Brian, co-founder and COO of Choco Up, is an investment banking veteran with over a decade of experience in debt, public equity and private investments. With his years of experience in the field, Brian's knowledge of risk management has allowed him to pioneer a data-driven credit assessment system, which is paramount to Choco Up's company level and portfolio level credit decisions.
Percy and Brian met at Georgia Institute of Technology over 15 years ago.
Who is Choco Up?
Choco Up helps startups by financing companies that need capital to sustain their growth. Each plan is tailor-fit to the client, whose needs are put first.
With more than 150 investments totalling around US$40 million, Choco Up is one of the largest RBF firms in the Asia Pacific. Funding can be granted as fast as 2 days for small loans, while big loans (over US$1 million) can be granted as fast as 3 to 7 days, which is ideal for tech-driven companies that need fast capital to unlock their growth potential.
How can Revenue Based Financing (RBF) help startups?