US$15 million investment in and strategic partnership with Chocolate Finance
Allen & Gledhill, as transaction counsel, advised Nikko Asset Management Co., Ltd. (“Nikko Asset Management”), which led the US$15 million Series A+ investment in, and entered into a strategic partnership with, Singapore-based “neobank” Chocolate Pte. Ltd., which operates the FinTech group, Chocolate Finance.
Chocolate Finance is a licensed fund management company headquartered in Singapore with S$866 million in assets under management, as of 31 December 2024. As a fund manager, Chocolate Finance offers cash savings solutions by offering stable, target returns benchmarked above fixed deposit returns but with no lock-ins.
Nikko Asset Management is one of Asia’s largest asset managers with US$234.8 billion in assets under management, as of 31 December 2024.
A separate team from Allen & Gledhill advised Peak XV Partners, which was one of the returning investors in the Series A+ round.
Advising Nikko Asset Management were Allen & Gledhill Partners Julian Ho and Adrian Ang.
Advising Peak XV Partners was Allen & Gledhill Partner Wong Yi Jia.
