Singapore – Revenue-based financing and growth platform Choco Up has announced a US$600k funding partnership with keyword advertising technology start-up ReverseAds. The funding will be used to accelerate its business growth in APAC, Europe and the United States – including opening the firm’s first office in Australia, as well as ramping up research in product development, and expanding the team to support its accelerating growth.
In addition, the funding will also lead to the incorporation of blockchain technology as part of ReverseAds App’s ecosystem. As a privacy-first keyword advertising platform, ReverseAds uses blockchain to validate that every click is from authentic, potential buyers of clients’ products or services, without Personal Identifiable Information (PII) collection or storage.
Percy Hung, co-founder and CEO at Choco Up, said, “The mission and vision of Choco Up are to help startups scale and grow by providing a better and more flexible funding solution. Our investment allowed ReverseAds to acquire extra capital for growth without losing any equity. As a result, they can continue to grow the company and boost their metrics, while we invest in a startup with immense growth potential.”
ReverseAds’ platform is an evolution of keyword advertising that helps identify a buyer’s journey post-search. It empowers clients with a diversified roadmap of opportunities at a ‘below the surface’ level of search compared to Google Ads, which are linear in nature and have only one opportunity to generate a click and ultimately a conversion.
Meanwhile, Michael Hahn, CEO, and founder at ReverseAds, commented, “We are grateful for Choco Up’s support, which will go a long way to bolster our expansion in APAC, enabling us to open an office in Australia and bring our unique offerings to a new market. This will enable us to fast-track product development and expand our R&D team in order to better serve our growing stable of clients.”