Choco Up, a leading growth financing platform in Asia, has expanded its partnership with Koomi to introduce an embedded Accounts Payable (AP) Financing solution for Singapore’s food and beverage (F&B) businesses. This initiative allows merchants to access working capital directly within the Koomi platform, with pre-approved financing of up to S$150,000 available to over 1,000 F&B outlets.
The new financing suite is integrated into Koomi’s restaurant operating platform, which supports more than 1,200 outlets across Singapore, including popular names like Tiong Bahru Bakery and Tim Ho Wan. This integration aims to help businesses manage cash flow, supplier payments, and inventory procurement more efficiently. Percy Hung, CEO and Founder of Choco Up, emphasised the importance of managing cash flow, stating, “For many restaurants, the challenge isn’t demand, it’s timing.”
Singapore’s F&B sector faces rising operating costs and changing consumer spending patterns, creating a need for financial flexibility. Traditional financing options are often limited due to the sector’s higher insolvency rates. By embedding AP Financing into Koomi’s ecosystem, Choco Up and Koomi aim to simplify the financing process. Eligible merchants can access pre-approved funds without the lengthy documentation typically required.
Andrew Tay, COO and Co-Founder of Koomi, highlighted the ease of access, saying, “By embedding AP Financing directly into the platform, we’re making it easier for merchants to access working capital within the workflows they already use.” This partnership seeks to bolster the resilience and growth of Singapore’s F&B ecosystem.
