DigitalCFO Newsroom | 18 March 2022
Airwallex, today announced its partnership with Choco Up, Asia’s leading revenue-based financing and growth platform, to support the future growth of cross-border ecommerce.
Airwallex, a global fintech platform, today announced its partnership with Choco Up, Asia’s leading revenue-based financing and growth platform, to support the future growth of cross-border ecommerce. By combining Airwallex’s proprietary global payments infrastructure with Choco Up’s flexible recurring funding solutions, the partnership enables a comprehensive and integrated finance solution for e-commerce companies across Asia.
Powered by Airwallex, Choco Up is able to offer a one of its kind, turnkey solution covering cross-border payments, collections, and growth funding, and addresses the needs that will enable e-commerce firms of all sizes to grow beyond geographical boundaries without financial constraints.
Kai Wu, Greater China CEO at Airwallex said, “We are so pleased to have been chosen as Choco Up’s partner as they continue to support the growth of ecommerce companies across the region. Businesses today require easy-to-use, accessible, safe and cost-efficient payment options, and our global financial infrastructure can enable that for businesses like Choco Up. Our scale API solution offers a centralized way to manage cross-border payment complexities, so businesses can easily transact internationally. We look forward to continuing our partnership in APAC and beyond, empowering businesses of all sizes to operate anywhere, anytime.”
Choco Up provides e-commerce companies of all sizes with flexible funding ranging from US$10,000 to $10,000,000 to accelerate their growth. Choco Up’s proprietary fintech platform allows for a seamless, automated funding process. By connecting the companies’ sales and marketing accounts to their data integration platform, Choco Up can swiftly conduct artificial intelligence-driven risk assessments on applicant companies within hours. The information gathered enables e-commerce companies to see all their business performance data in one place, helping them identify pain points, optimize their businesses, and stay on top of the competition.
“The pandemic has propelled even faster growth of e-commerce companies over the past couple years, many who are in search of new funding and payments options to enable more sustained long-term growth regionally/internationally,” said Brian Tsang, Co founder and COO of Choco Up. “Partnering with Airwallex allows us to build a comprehensive hassle-free payment and funding infrastructure in Asia to empower these businesses to scale across borders without complications and co-create a better future for cross-border e-commerce in Asia.”
Bringing together Airwallex’s global payment technology with Choco Up’s funding platform and analytics tools, this solution will serve as a one-stop-shop for e-commerce companies looking to expand internationally. Airwallex’s global payment software lets e-commerce businesses make cross-border payments in more than 130 currencies at significantly lower costs because of their market-leading foreign exchange rates. In addition, Airwallex Borderless Cards will enable e-commerce merchants to make digital payments across borders that are more secure, transparent, and efficient. This will significantly impact the Asia e-commerce industry, unlocking access to the global retail e-commerce industry worth US$4.9 trillion in 2021 for Asian e-commerce businesses.