Meet Percy Hung, CEO & Co-Founder Of Choco Up

Percy Hung is an entrepreneur and investor based in Singapore. He is the co-founder and CEO of Choco Up, one of Asia Pacific’s largest revenue-based financing and growth platforms that offers fast-track, data-driven funding to fast-growing companies that require rapid capital deployment. Percy leads the sales, marketing and business strategy at Choco Up, aspiring to bring this innovative funding solution to the Asia Pacific.

Disruptr gets to know him better in our latest Q&A.

How did you first venture into his entrepreneurial journey?

I began my career as an aerospace engineer and worked on numerous products in different multinational companies as a product engineer. My interest in the rapidly changing technological advancements around me and my engineering background inspired me to create a new fabric technology.

That led to the start of my first venture, LXN, an online apparel with functionality store. The entrepreneurship experience piqued my curiosity, and I subsequently co-founded Healthy Chicken, one of Hong Kong’s earliest health-concept restaurants with cloud kitchen capabilities.

What were some of the challenges you faced in your early days and how have the challenges differed as you continued to establish new startups throughout your journey?

Considering cash flow is essential at every stage of a business, including startups, where it poses a significant challenge. I’ve observed numerous promising startups falter due to inadequate cash flow, prompting the inception of Choco Up. As a business owner, I’ve personally grappled with the difficulties of cash flow management. My objective was to provide assistance not just for myself but also for fellow business owners.

What are some of the biggest lessons you have learnt throughout your entrepreneurial journey?

The outcome of a plan will never be exactly what you expect. Therefore, it is important to adapt and adjust to the situation constantly. When hiring, focus on the return on investment (ROI) rather than the cost. This means that it is not just the amount spent on hiring or an important initiative but rather the return on that investment.

What advice would you have for first-time entrepreneurs with regards to mistakes they shouldn’t make?

Instead of aiming for perfection in your plan, product, or timing, it’s better to start by taking action and getting your boots on the ground. As you move forward, be open to making necessary adjustments and pivots. This way, you’ll be able to adapt to changing circumstances and improve your chances of success. Remember, progress is often made through trial and error, so don’t be afraid to experiment and take risks.

What problem statements did you hope to solve with Choco Up? 

Having founded multiple businesses, I know firsthand the challenges entrepreneurs face when securing funding. It can often be the biggest stumbling block that prevents startups from getting off the ground.

That’s why I decided to develop Choco Up – a unique platform that offers businesses access to flexible funding tailored to their individual needs through revenue-based financing. Our mission is to help deserving businesses achieve their growth potential in a way that aligns with their values and priorities. Choco Up empowers businesses to take control of their future and realise their dreams.

How has Choco Up grown since its early days, and what are some of the milestones achieved?

Our company has experienced remarkable growth, marked by our successful expansion into new markets. We are proud to have facilitated over 600 funding rounds, resulting in an impressive total GMV (Gross Merchandise Value) funded over US$1 billion.

It’s worth noting that most of our customers are recurring ones, which speaks to their high satisfaction with our services. We are excited to continue building on this momentum and are confident that we will achieve many more milestones together with our valued customers.

As a serial entrepreneur, if you could venture into a new industry, what industry would he prefer to try out?

Basketball and golf have always been a passion of mine, and I played it regularly during college and in the early days of my career. I love sports and fitness and would love to explore a new career in sports or sports science-related industries.

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Poovenraj Kanagarajhttp://disruptr.com.my
Founder & Editor of Disruptr MY, aspiring to build a community-building platform to connect founders and entrepreneurs to the latest news, interviews and insights from the ecosystem.

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