Choco Up, an Asia-based growth financing platform, has announced a strategic partnership with Wonder Capital Group Limited, a Hong Kong-based independent investment management firm, to launch a series of private credit funds aimed at raising $50 million to support small and medium-sized enterprises (SMEs) across the Asia Pacific (APAC) region.
The partnership has already achieved a key milestone with the successful closing of its first $10 million funding round, led by the CMAG Private Credit Fund managed by Wonder Capital, as confirmed in a joint statement released on Tuesday.
This collaboration represents a significant step in Choco Up’s broader mission to empower one million asset-light businesses in the APAC region, helping them scale sustainably and achieve long-term growth. The SME sector, which makes up 98% of businesses in Asia but contributes just 38% to regional GDP, faces a critical $2 trillion funding gap to meet its growth and expansion needs. Choco Up aims to bridge this gap with its innovative, flexible, and non-dilutive revenue-based financing solutions.
The new fund will primarily target businesses in high-growth sectors such as e-commerce, software-as-a-service (SaaS), and technology, providing them with the capital needed to scale rapidly and unlock exponential growth opportunities.
Choco Up’s partnership with Wonder Capital not only aligns with the firms’ shared vision of driving sustainable growth across APAC but also strengthens Choco Up’s access to institutional investors and strategic partners, enhancing the platform’s visibility in the market. The backing from Wonder Capital adds significant credibility to Choco Up’s positioning and instills confidence among stakeholders, partners, and clients alike.
“Partnering with Choco Up allows us to tap into the blue ocean of asset-light businesses across APAC,” said Gigi Chan, Founder and CEO of Wonder Capital. “The launch of our private credit fund series has already generated strong interest from institutional investors, and we expect to continue raising capital towards our $50 million target. This collaboration aligns perfectly with our vision to foster ecosystem growth and empower businesses across the region.”
Choco Up’s financing solutions have already had a major impact on APAC businesses, with over $1 billion in gross merchandise value financed to date. The platform’s flexible and equity-free solutions have enabled businesses to increase revenues, launch new products, expand user bases, grow teams, and achieve successful acquisitions.
“By leveraging Wonder Capital’s network and resources, we are better equipped to help businesses overcome barriers to growth and realize their expansion plans,” said Percy Hung, Founder and CEO of Choco Up. “This partnership is more than just about funding—it is about creating long-term value for the region’s SMEs and offering compelling investment opportunities to institutional players seeking high-growth prospects in APAC.”
Choco Up operates across key markets in Australia, Malaysia, Singapore, and Hong Kong, providing working capital solutions to businesses, while Wonder Capital specializes in investment management and advisory services for institutional investors, family offices, and high-net-worth individuals globally.
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