Singaporean FinTech innovator Choco Up will support impact-driven startups by injecting US$5 million in funds through their latest initiative in partnership with Hong Kong-based social enterprise Dream Impact.
Asia’s leading revenue-based financing and growth company, Choco Up has partnered with Dream Impact, a social enterprise based in Hong Kong, allocating US$5 million in finances to support and boost impact-driven startups. In light of the recent partnership, the funds deployed aim to drive social incentives among impact enterprises across various themes and causes including diversity, equity, and inclusion (DE&I), circular economy, as well as human-focused education.
The selected impact themes developed by Dream Impact intend to work in alignment with the United Nations’ 17 Sustainable Development Goals.
These organisations have expressed a strong desire to bring together varying parts of society through their curated theme-based initiatives, as to identify and address social issues, diverging needs, and develop incentives and innovative solutions accordingly. In addition, the growth capital dispensed will allow participating social enterprises, and impact-driven startups to enhance their business offerings as well as work towards revising and fulfilling their organisational mission and other objectives.
Choco Up hopes to bring forth its knowledge, resources, and expertise to Dream Impact, along with its network of socially conscious founders and startups.
Brian Tsang, the Co-Founder and COO of Choco Up, commented, “[This] marks an important milestone in our impact finance journey as we continue to expand our reach in the impact space and work towards enhancing financial inclusion for socially conscious businesses across Asia.”
The recent collaborative efforts have not only facilitated the funding incentives for many social enterprises, but also aim to empower Dream Impact along the way, boosting its impact across the region. Moreover, it has opened great scope for Choco Up to expand on its social initiatives and become more established within the industry.
“Choco Up understands the value of social enterprises and impact ventures that aim to shape the future that we collectively want. It shares our vision of a society where everyone is conscious of the work they do, the things they buy and the values they advocate,” added Dorothy Lam, the Co-Founder and Chief Catalyst of Dream Impact.
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