Asia’s largest revenue-based financing and growth platform, Choco Up, has joined forces with Bueno and Allianz Trade in Asia Pacific to unveil a digital, automated Buy-Now-Pay-Later (BNPL) solution tailored for both B2B e-commerce and traditional sellers.

This partnership aims to tackle the estimated $20 billion working capital gap in Southeast Asia, thereby injecting new vitality into the $121 billion e-commerce industry in the region.

Iman Aqas, Bueno Co-Founder and CEO, expressed enthusiasm about the collaboration, stating, “We are thrilled to partner with Choco Up and Allianz Trade – both parties are industry leaders in their respective fields. Together, we will help businesses overcome their cash flow challenges and provide them with the tools they need to manage their finances more flexibly and conveniently.”

Thomas Guyader, Regional Head of Digital Transformation at Allianz Trade in Asia Pacific, outlined their commitment to supporting B2B e-commerce growth, emphasizing the potential of the new product in the evolving global trade landscape. Guyader stated, “With BNPL payments becoming a must-have for e-merchants, our solution will plug the working capital gap and help them attract more customers from different markets and grow their businesses.”

Under this collaboration, Choco Up supplies funds for Bueno’s BNPL platform, offering e-commerce buyers up to 60 days of payment terms, while Allianz Trade underwrites the process. This unique offering in Southeast Asia benefits both buyers and sellers by enabling favorable credit terms with no extra fee for buyers and zero risk for sellers.

Having already demonstrated success with the BNPL model, Choco Up’s previous collaboration with a Hong Kong-based wholesale retailer resulted in over 3,500 transactions and close to $2 million USD in financing to date. The innovative BNPL model with Allianz Trade and Bueno introduces an inventive way of embedding insurance for the capital issued, allowing for automated disbursement of funding within 30 seconds for B2B e-commerce transactions.

The global B2B e-commerce market, already six times larger than B2C, is projected to grow at a compound annual growth rate (CAGR) of 22% in Asia Pacific until 2030. With Choco Up, Bueno, and Allianz Trade showing strong optimism for the industry, this partnership is poised to bridge the funding gap affecting ASEAN SMEs and bring the projected growth closer to reality.

Percy Hung, CEO and Co-founder of Choco Up, expressed confidence in the partnership’s ability to reshape the future of e-commerce, stating, “With faster and more secure access to capital, the future of e-commerce has never been brighter. Our partnership today will now unlock the growth potential of thousands of businesses to expand their operations – even operate across borders and bring us closer to our vision of helping a million asset-light businesses grow.”

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