BuyHive
Sourcing as a service
When the world paused, BuyHive secured $2.2M with Choco Up
US$2.2M
Funding Received
2X
Gross Monthly Revenue
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Marketing
BuzzAR is a location-based AR solution for retail and commerce organisations based in Singapore.
Now, transitioning to a metaverse startup, BuzzAR is embracing Web3.0 with CryptoToon. Their vision is to augment places and faces, connecting the next billion users to co-create an inclusive metaverse.
During the pandemic, BuzzAR faced a significant challenge when they decided to venture into business-to-consumer (B2C) products.
Despite their success as a business-to-business (B2B) marketing solution, investors were hesitant to support their new B2C initiatives.
“During those crucial three months, it felt awkward because all our other apps were for B2B. But now, we were pitching a B2C arm to investors," Bell Beh, co-founder of BuzzAR explains..
Choco Up provided BuzzAR with collateral-free growth financing, featuring a low one-time fee, and a unique revenue-sharing repayment model.
This arrangement allowed BuzzAR to repay less when business was slow, and increase payments as revenue picked up.
While traditional financiers may struggle to understand businesses like BuzzAR that seek to innovate, Choco Up is uniquely tailored to support such companies.
Choco Up supported us when no one else believed in us. I'm very grateful for what Choco Up did for us when we first started. It was challenging because I struggled to secure funding, even though we had reputable clients with 5-year contracts from Fortune 500 companies.
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Since Choco Up’s initial investment, BuzzAR has launched 5 new products, all of which are B2C.
Their mobile game, The Cooking Game Mama, has over 20 million downloads across all platforms.
Happytoon, an AI animation app, got 10,000 users across several regions in the first two weeks. Additionally, the new line of products have helped them break into new markets.
“This new entertainment app has a take up rate from countries that we’ve never penetrated before. And this was done without any marketing dollars” says Bell.
Grow your business with Choco Up
