Singapore-born fintech Chocolate Finance has expanded into Hong Kong, offering a cash management platform that provides daily returns and flexible withdrawals as it seeks to tap demand for alternatives to traditional savings and investment products.
The expansion extends the company’s operations beyond Singapore into Hong Kong and the United Arab Emirates (UAE). Chocolate Finance currently manages more than S$1.6 billion ($1.25 billion) in assets and serves more than 130,000 users, the firm said in a statement on Friday.
In Hong Kong, the platform offers an annual return of 3.8 percent on the first HK$100,000 and 3.5 percent on the next HK$200,000 under its Chocolate Advantage Program.
The program, which runs until June 30, 2027, or until assets under management reach HK$1 billion, whichever comes first, provides for the company to make up any shortfall if returns from the underlying portfolio fall below the stated rates, subject to its terms and conditions.
Users can start with a minimum deposit of HK$100, with returns beginning the day after funds are deposited. The platform does not impose lock-in periods or withdrawal penalties, while withdrawals of HK$50,000 or less per day are generally processed instantly under normal circumstances.
Chocolate Finance founder and global chief executive officer Walter de Oude said the company aims to offer a simpler way for consumers to manage their spare cash.
“As we expand from Singapore to Hong Kong, our commitment has remained the same. We are here to reshape how people view and manage their money, turning idle cash into ‘happy money’ with radical simplicity and clarity,” he said.
Chocolate Finance Hong Kong chief executive officer Tim Jones said the company identified a gap between traditional savings and investment products and consumers’ demand for simpler and more transparent cash management options.
He said the platform’s daily returns and flexible access to funds were designed to address these needs, adding that the response from early users in Hong Kong had been encouraging.
The platform is operated by Chocolate Finance HK Ltd, which is licensed by Hong Kong’s Securities and Futures Commission (SFC) to conduct Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activities.
According to the company, customer funds are held in segregated trust accounts with Standard Chartered Bank, separate from its corporate funds.
Its managed account invests in SFC-authorized, investment-grade short-term bond and fixed-income funds managed by global asset managers, including Amundi, Invesco and Aberdeen.
The company was founded by de Oude, who previously established Singapore-based insurer Singlife. Chocolate Finance said its platform is designed to provide users with daily returns while allowing them to access their funds without fixed holding periods.
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