Investment and fintech firm Choco-Up invests growth capital to fund CE Brand, a Canada-based eCommerce platform that automates research & development (R&D) with big data intelligence.
Founded in 2012, CE Brands' usage of big data intelligence transformed the R&D process of consumer electronics by utilising consumer satisfaction data to generate AI systems that support the design of new products. The company now has 11 regional subsidiaries, with product offerings spanning across 32 countries globally. In 2019, CE Brand began to sell a series of in-house consumer electronics that were designed with the help of CE Brand’s proprietary big data intelligence systems. Since then, CE Brands has formed exclusive partnerships with industry veterans Kodak, and Motorola.
Choco-Up’s non-dilutive investment allows CE Brands to purchase more inventory without fear of payback delay, expand their reach by funding more brand licenses, and continue its research and development processes without causing cash flow problems, allowing the company’s development of their primary product, it’s big data AI systems, to be unaffected by the production of their new electronics
The tailored solution allows for CE Brands to structure a long term capital injection plan that maximizes the firm’s revenue growth across different product suites by providing them with much needed growth-capital to purchase inventory and take orders without fear of accounts receivable (AR) delay. Choco-Up’s flexible repayment scheme, based on a percentage of CE Brand’s revenue, funds the operations across all 11 regional subsidiaries, making it possible for the firm to grow at full capacity on all fronts, without having to wait for returns.
Additionally, the collaboration strategically enables CE Brands to tap into the growing Asian economy with Choco-Up’s localized expertise in the Asia-Pacific market.
“Today’s announcement is another terrific example of a high-caliber, institutional-grade investor throwing their support behind CE Brands and our mission to become,” said Craig Smith, founder and CEO of CE Brands group. “This is truly a milestone for CE Brands, and we look forward to working with the Choco team and benefiting from their value-add and expertise, especially in SEA markets like Vietnam.”
Choco Up is a revenue-based investment firm that uses a proprietary data-driven fintech platform to enable promising startups and fast-growing businesses to reach their potential through quick and economical capital solutions. Funding can be made accessible from three days to a week, and even as quickly as under 24 hours with the platform’s real-time business analytics and risk assessment models.