Airwallex 🤝 Choco Up for cross-border ecommerce push

Hong Kong-based fintech unicorn Airwallex is partnering with financing platform Choco Up to push the growth of cross-border ecommerce in Asia. The team-up involves combining Airwallex’s global payment infrastructure with Choco Up’s funding solutions.

The partnership will offer access to cross-border payments, collections, and growth funding services, enabling the region’s ecommerce players to scale with less financial hassle.

Photo credit: Airwallex

“Our scale API solution offers a centralized way to manage cross-border payment complexities, so businesses can easily transact internationally,” said Kai Wu, Greater China CEO at Airwallex.

Choco Up provides revenue-based financing from US$10,000 to US$10 million to ecommerce companies. It also has an AI-driven risk assessment solution to help business owners identify pain points and optimize their operations.

Airwallex entered the Singaporean market in January. Its valuation hit US$5.5 billion in November 2021 after getting US$100 million in a series E1 round.

Meanwhile, Choco Up recently invested in ad servicing startup ReverseAds.

See also: Series SEA: Who’s investing in the region’s fintech startups?