Choco Up, a leading growth financing platform in Asia, has partnered with CHUAN, a tech-driven credit specialist, to introduce a $30 million private credit facility for small and medium-sized enterprises (SMEs) across the Asia Pacific. This initiative seeks to address the region’s significant financing gap, estimated at $2.5t annually, as reported by the Alternative Investment Management Association.
The facility is designed to provide SMEs with timely and transparent access to capital, aligning with their operational pace. This approach marks a shift in SME financing in the region, focusing on speed, transparency, and performance alignment. The first drawdown from the facility has already been completed, indicating a promising start.
By leveraging CHUAN’s institutional capital and Choco Up’s data-driven credit assessment, the partnership offers a more efficient funding process. SMEs can expect funding approvals within hours, compared to traditional timelines of up to six months. This enables businesses to manage cash flow gaps and stabilise operations during payment delays without disrupting daily activities.
Percy Hung, CEO and Founder of Choco Up, stated, “SMEs today don’t just need access to capital. They need financing that keeps pace with how their businesses operate.” The collaboration combines Choco Up’s expertise in flexible, equity-free financing with CHUAN’s capital markets knowledge and global investor network.
Lin Tun, Founding Partner and Chief Investment Officer of CHUAN, added, “By combining our tech-driven approach with Choco Up’s expertise in SME financing, we can deliver scalable, transparent, and responsible working capital solutions that create meaningful impact among SMEs regionally.”
