Choco Up and Wonder Capital Group Set to Unlock USD50 Million in Capital, Bridging the Funding Gap for APAC SMEs
Hong Kong, 10 March 2025 — Choco Up, Asia’s leading growth financing platform, has entered into a strategic partnership with Wonder Capital Group Limited (Wonder Capital), a reputable independent investment management firm to begin a series of private credit funds projected to raise USD 50 million.
This partnership includes the successful completion of its first close of a USD 10 million private credit funding round funded by CMAG Private Credit Fund led by Wonder Capital. The collaboration marks a significant step forward in Choco Up’s mission to empower a million asset-light businesses in the Asia-Pacific (APAC) region to achieve sustainable growth.
The small and medium-sized enterprise (SME) sector, which accounts for 98% of all businesses in Asia but contributes only 38% to the region’s GDP, faces a staggering USD 2 trillion funding gap [1] in meeting their growth and expansion needs. Choco Up is working to bridge this gap with its innovative financing solutions, by providing flexible, non-dilutive revenue-based financing and tailored growth strategies. The fund led by Wonder Capital will serve as a catalyst for empowering businesses in industries like e-commerce, SaaS, and technology, enabling them to scale and unlock exponential growth.
Choco Up’s partnership with Wonder Capital signifies a strong alignment of shared values and a joint vision to empower businesses and drive sustainable growth across the APAC region. It aims to address the untapped potential of asset-light businesses, offering tailored solutions that combine Choco Up’s innovative financing platform with Wonder Capital’s financial expertise.
The strategic partnership enhances Choco Up’s access to institutional investors and strategic partners, creating greater visibility and collaboration opportunities. Additionally, backing from a reputable institution like Wonder Capital strengthens Choco Up’s market positioning and instills confidence among stakeholders, partners, and clients. Together, the partnership sets the stage for driving sustainable growth across the region.
To date, Choco Up has financed over USD 1 billion in gross merchandise value across APAC. Its swift, flexible, and equity-free financing solutions have been instrumental in helping businesses increase revenues, launch new products, expand their user bases, grow their teams, and achieve successful acquisitions. With the funding and partnership in place, Choco Up is poised to extend its support to even more businesses, helping them unlock growth opportunities and scale sustainably.
Wonder Capital brings to the table a wealth of expertise in investment management, and has a strong track record of providing strategic funding and guidance to high-growth businesses globally. Their shared commitment to supporting businesses in achieving their full potential makes this partnership with Choco Up a natural fit.
Gigi Chan, Founder and CEO of Wonder Capital shared, “Partnering with Choco Up allows us to tap into the blue ocean of asset-light businesses across APAC. The launch of our private credit fund series has already attracted strong interest from institutional investors, and we expect to continue to raise USD 50 million. This partnership aligns perfectly with our vision to foster ecosystem growth and empower businesses, marking the start of a meaningful, long term collaboration.”
Percy Hung, Founder and CEO of Choco Up, added, “This partnership goes beyond funding. By leveraging Wonder Capital’s network and resources, we are better equipped to help businesses overcome growth barriers and realise their expansion plans. Together, we aim to not only support the region’s SMEs, but also deliver a compelling investment proposition for institutional players seeking high-growth opportunities in APAC.”
About Choco Up
Choco Up provides fast, flexible, and zero-equity working capital solutions to empower businesses. Every business should have the chance to grow, which is why we offer a range of solutions beyond just financing. Choco Up is based in Australia, Malaysia, Singapore and Hong Kong and on a mission to help a million businesses achieve goals and reach new heights.
Learn more at choco-up.com | Follow us on: LinkedIn
About Wonder Capital and CMAG Funds
Wonder Capital Group Limited (Wonder Capital) is an independent investment management firm based in Hong Kong with Type 1 Dealing in Securities, Type 4 Advising on Securities and Type 9 Asset Management licenses granted by the Securities of Futures Commission of Hong Kong (HKSFC) (CE number BGT920). Wonder Capital specialises in providing advice and solutions to professional investors including institutions, family offices and high-net-worth individuals in the globe.
CMAG Funds is a series of Cayman funds managed by Wonder Capital with Mr. Chatchaval Jiaravanon as a strategic partner and investor with an investment focus in the real estate, sustainable energy and private credit sectors. Mr. Chatchaval Jiaravanon is a key family member of CP Group, chairman and founder of Charoen Energy and Water Asia, and owner of Fortune Media.
Learn more at wonder-capital.com | Follow us on: LinkedIn
