Choco Up partners with Shoplazza to transform the financing landscape for DTC e-commerce merchants

The partnership will provide funding to e-commerce merchants and help transform local businesses into global players

SINGAPORE – Media OutReach – May 23, 2022 – Choco Up, a global technology and financial services platform that provides revenue-based financing and growth solutions for digital merchants and startups, today announced its strategic partnership with Shoplazza, a world-leading e-commerce software such as a Service (SaaS) platform. Together, their partnership will provide fast and accessible business growth financing for Shoplazza’s direct-to-consumer (DTC) brands, helping companies overcome the financing challenges e-commerce merchants often face.

Shoplazza’s first-ever growth financing partner, Choco Up’s embedded, revenue-driven financing solution with its proprietary AI-driven underwriting model, provides financing through the Shoplazza platform in just a few clicks. This allows more than 360,000 traders to grow in gross value of trade (GMV) through inventory purchases, marketing spend and new market expansions around the world.

Ecommerce merchants often face operational and geographic challenges as they expand

A major pain point that many ecommerce merchants face is their heavy reliance on third-party marketplaces such as Amazon and Lazada. These platforms charge commission fees of up to 45% per trade, putting pressure on sellers’ razor-sharp margins. As a result, many e-commerce merchants have adopted the DTC business model, which offers higher margins, greater flexibility, and greater Return-On-Investment (ROI). However, this also requires entrepreneurs to invest in their website and online store, which can incur significant costs.

Shoplazza empowers merchants by providing all the tools they need to create their online store, freeing them from third-party marketplace platforms and enabling them to grow their DTC brands globally and independently. The integrated platform helps businesses manage their online stores, including web infrastructure, product sourcing, enterprise resource planning (ERP), customer operations, etc. In addition to software-as-a-service, Shoplazza also provides branding, marketing, and other e-commerce-adjacent support.

Another key challenge for e-commerce companies is the significant funding gap among merchants looking to move to the DTC business model to expand and scale globally. Ecommerce merchants are often unable to obtain loans from banks due to a lack of assets with profiles considered to be higher risk. They cannot rely on private equity or venture capital, which favor investing in disruptive technology sectors, leaving many digital traders out in the cold. The success rate of obtaining private equity financing can be as low as 0.7%.

Choco Up provides quick and easy growth financing to e-commerce merchants without the need for collateral, equity or fixed terms. Shoplazza’s DTC e-commerce merchants don’t need to fill out lengthy applications or go through extensive credit checks to access growth capital. With its proprietary AI and machine learning technology, Choco Up can quickly and reliably perform the risk assessment for traders and offer financing within 48 hours.

Unlike traditional financing methods, Choco Up’s revenue-sharing model – the first of its kind in Asia – allows traders to easily obtain growth financing and repay flexibly by sharing a small portion of their monthly revenue during repayment. . Merchants no longer have to worry about late payments due to unstable cash flows and gain the flexibility and protection against business growth and expansion risks. By extending credit to e-commerce businesses and supporting merchants in pursuing global ambitions, Choco Up bridges the gap between e-commerce businesses and growth capital.

“A synergistic convergence of two of Asia’s leading technology companies, this embedded financing product partnership between Choco Up and Shoplazza will revolutionize large-scale e-commerce financing. Together, the two platforms will give merchants access to quick and easy business financing to monetize with growth opportunities in the dynamic e-commerce landscape and a comprehensive suite of digital commerce-related support,” said Brian Tsang, co-founder and COO of Choco Up. † “Partnering with Shoplazza also enables us to help even more local businesses cross their borders, while furthering our mission to increase financial inclusion for businesses of all sizes.”

“This strategic partnership will allow Shoplazza to expand its offering of e-commerce adjacent support for merchants currently using its software and services. In addition, the financing of Choco Up can help many DTC sellers realize their global growth potential,” said Jesse Huang, the VP of Shoplazza.

About Choco Up

Choco Up is a global technology and financial services platform that provides revenue-based financing and business growth solutions for digital merchants and startups. With data analytics and machine learning at its core, Choco Up leverages extensive integrations to automate fund deployment, providing high-growth businesses with no equity financing in a quick and seamless way. We currently have offices in Singapore and Hong Kong and serve businesses around the world, with smart growth analytics and global payment solutions to drive their growth.

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About Shoplazza
Shoplazza is an award-winning shopping cart commerce technology company that delivers differentiated value by providing technology that makes it easy to start, market and manage online stores of all sizes. The single integrated back-end platform, powered by advanced data analytics capabilities, is designed for reliability, security, and adaptability so that our salespeople never miss a turn.

Shoplazza champions merchants to not only build an online store, but also own their brand. North American-based Direct-to-customer (“DTC”) branding incubation team provides services that span the entire buyer journey, helping sellers build direct relationships with buyers and make their brand memorable and distinctive.

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Choco Up partners with Shoplazza to transform the financing landscape for DTC e-commerce merchants

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