CXA Group grew 500% with Choco Up
Founded in 2013, CXA has reduced healthcare & insurance costs by integrating value chain, eliminating intermediaries & digitizing end-to-end journey, and also transformed one-size-fits-all employee benefits into a company-funded e-wallet and digital marketplace.
Founded in 2013, CXA has reduced healthcare & insurance costs by integrating value chain, eliminating intermediaries & digitizing end-to-end journey, and also transformed one-size-fits-all employee benefits into a company-funded e-wallet and digital marketplace personalized to each employee’s life stage & health needs. CXA’s B2B2C wellness model empowers employees and SME clients within multinational financial institution and corporates with direct integration to clinic software (health screening) and insurer integration.
Currently, CXA has 7 regional subsidiaries, supported with blue chip clients, such as HSBC, OCBC, Humanica, and acquired Mediplus (a health screening aggregator) to expand footprint in China. The company is backed by HSBC, Singtel Innov8, the Singapore Economic Development Board's investment arm EDBI and B Capital Group, the venture firm of Facebook co-founder Eduardo Saverin.
Choco Up offers CXA's management team the flexibility to restructure the traditional B2B “Direct to Corporate Brokerage” model into a highly scalable “Enterprise SaaS platform” for distributors, and maximize the future equity valuation of CXA
With Choco Up’s capital, CXA was able to increase the cash position by 200% without equity dilution.
It allows CXA to conduct the restructuring smoothly with reducing burnt rate 4X, and also optimize efforts on key client accounts, pushing the enterprise revenue 6X, unlocking future equity SaaS valuation with 3X instead of traditional brokerage multiple
“Choco-Up is a game changer. They gave us the most founder-friendly and flexible financing option which allows us to restructure our business model and accelerate our growth. Choco-Up has been and will continue to be the funding to drive our growth.” - Rosaline Chow Koo, Founder of CXA