Who is Choco Up?
Choco Up is a revenue based financing (RBF) company that offers non-dilutive growth capital to startups with high growth potential. Our company has invested more than 100 times totalling at around US$30 million, spanning a total of 8 countries and 10 business sectors. We have invested in all major tech verticals, including electronic marketplaces, e-commerce, software-as-a-service (SaaS), direct to consumer (D2C), and mobile apps.
What is RBF?
Revenue based financing is a non-dilutive method of alternative finance that offers opportunistic growth capital for startups. Startups can apply for funding without giving up ownership to their investors. They can retain full control of their business, maintaining alignment with the founders business strategy, while obtaining funding for revenue-linked spending, including ad-spending, marketing campaigns, or the purchase of more inventory.
Traditional methods of raising growth capital, such as from Venture Capital (VC) and Private Equity (PE), often include giving up a share of the business. However, it seems unfair to the startup that they must dilute ownership of their business in order to fund revenue-linked spending for a product that is already profitable and market tested.
Why choose Choco Up?
Choco Up is one of the leading RBF firms in the Asia Pacific. While other RBF firms in Asia may require a startup to give up options, provide warrants, vintage, or board seats, Choco Up only requires transaction data to form a tentative term-sheet. Funding can be given as fast as 3 to 7 days, with smaller loans being provided in as fast as 48 hours.
Choco Up stands out from other RBI firms in Asia due to our adaptability and effort to create tailored plans that put the startups first. We do not take collateral, or any other securities, and therefore our success is reliant on your success, which is why all Choco Up’s funding plans are data driven and reviewed by industry experts before being strategically implemented. We have made over 100 investments, all of which have plans that are different and tailored to the needs of the business. To date, no company has defaulted and have all been positively impacted by our alternative finance model.
Additionally, the Choco Up team understands that there are many qualitative properties to business management that are difficult to capture through computer rules and algorithms. Therefore, while we are developing proprietary AI business analysis technology, our transaction analysis is done through a mix of data-driven technology and industry expertise, a combination that ensures our clients are given cutting edge treatment with a personal touch.
About our founders
Percy Hung, co-founder and CEO of Choco Up, is a serial entrepreneur that started his first business back in 2009. Since then, he realized that startups face many problems, one of them being funding. As a consequence, he co-founded Choco Up in 2018, as a non-dilutive solution to startup fundraising, created by founders for founders, to help them realize the true potential of their business.
Brian Tsang, co-founder and Chief Operating Officer of Choco Up, is a veteran investment banker with over a decade of experience in the industry. His years of experience in risk assessment helps him pioneer the data-driven systems that allow Choco Up to invest into companies with high growth potential, despite lacking an impressive credit history, which would be necessary if the startup were to get a loan from a bank.