Singapore, August 24: Asia’s leading revenue-based financing and growth platform Choco Up announced a US$120K funding partnership with Poptron, a Malaysia-headquartered social e-commerce platform.
Choco-Up’s funding – part of a larger funding round by Poptron – will support Poptron in their expansion plans in Singapore and other countries in the region at a peak time for the e-commerce industry.
“We are particularly passionate about this investment deal because of Poptron’s commitment to creating a greener world and ensuring they have a climate-positive impact,” Percy Hung, Co-founder and CEO of Choco Up said.
“The effects of climate change in Asia have given rise to more socially conscious consumers as well as brands, and they can now easily connect using Poptron’s platform.”
“We have a range of microbrands selling high-quality, natural and eco-friendly products or artisanal goods on our platform,” said Poptron founder Brian Johnson Lowe.
“I have always been passionate about the creative economy and technology space, but I also feel strongly about doing more to protect our environment – Poptron lets me combine my two passions to help small businesses pursue their dreams while amplifying positive impact.
Choco-Up’s investment will go a long way in making sure we can do the same for small, eco-friendly businesses in Singapore and many more countries.”
Poptron connects socially conscious consumers in Malaysia with ethical, sustainable and socially responsible brands on their platform, which currently hosts over 100 microbrands with more than 2,000 different types of product listings.
By offering all-encompassing, end-to-end solutions to sellers, handling everything from enquiries to shipping on a single platform, Poptron helps sellers overcome key pain points in customer acquisition, business management and regional growth.
Poptron will also become a channel partner of Choco Up, enabling the small and micro merchants on the platform to gain access to Choco Up’s data-driven financing platform and receive the immediate and accessible financing these brands – which may not otherwise be able to receive the necessary capital – need to grow.
Earlier this year, the company took part in a US$ 1 million seed round invested by a NASDAQ listed company to develop their platform further and commence expansion plans.
Their recent funding from Choco-Up will further facilitate the company’s ambitious growth plans to capture US$1.6 billion of the micro brand market share, with 600,000 microbrands generating their global revenue in 2025.
While Asia’s e-commerce industry is set for explosive growth in the aftermath of the COVID-19 pandemic, the region is also grappling with some of the worst impacts of climate change with up to US$4.7 trillion in annual GDP at risk due to increased heat and humidity.
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