Chocolate Finance has raised $15 million in a Series A+ funding round led by Nikko Asset Management, as it looks to expand beyond Singapore and enter Hong Kong after securing a regulatory licence there.
The round saw participation from existing backers including Peak XV Partners, Prosus Ventures, Saison Capital, and founder Walter de Oude.
Launched in July 2024, Chocolate Finance said it has grown to nearly 100,000 users, with S$900 million in assets under management (AUM). The company also claims to have delivered about S$22.7 million in total returns to users across SGD and USD funds over the past year.
With the company seeing early traction in Singapore, it now looks to replicate that growth in Hong Kong after receiving the regulatory green light to operate in the country.
Chocolate Finance said in its statement that this regulatory approval marks a critical step in its regional growth strategy which will enable the company to soon serve users in one of Asia’s most dynamic financial hubs.
“We have built such a great business in Singapore and helped so many people get a decent return on their cash. Now it’s time to accelerate international expansion, and this new capital allows us to progress in our regional growth aspirations. Securing this latest round of funding is a strong vote of confidence in Chocolate’s vision, our business fundamentals, and the incredible team driving it,” said Walter de Oude, CEO and founder of Chocolate Finance.
The company is also rolling out a limited-time referral campaign through the end of August, aimed at driving further user growth.
