Blog
Who is Choco Up?

Who is Choco Up?

This post gives a quick summary over what Choco Up is, what services we have to offer, and a little bit of insight of our team. Additionally, we will give a general idea of who Choco Up services are right for.
Written and published by
ET Wu

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? 


  1. Demand for your product is getting high, and you don’t have enough capital to purchase the inventory to respond to this demand.

    Choco Up can provide a quick solution by providing growth capital to fund the purchase of inventory to respond to growing demand.

  2. You run a mobile app, or any other product/service with a long accounts receivable (AR) delay, and your revenue doesn’t come fast enough to pay expenses.

    Choco Up can give a loan in small tranches, providing a solution to long AR delays, making sure that the startup gets a consistent and reliable payroll.

  3. Your startup needs growth capital to take operations to the next level. For example, you need to fund a new warehouse to start selling in a new country.

    Choco Up can provide a large loan to fund logistical investments. Repayment through revenue share is especially advantageous, as new markets may take time to penetrate. 


Choco Up

Ready to scale your business faster?

Choco up invests from $10K to $10M USD on a revenue share model. We'll simply take a fixed percentage of your sales until we have recouped the capital + flat flee.