Instarem, a global digital payments platform under Nium, has partnered with growth financing provider Choco Up to embed non-dilutive SME financing directly into the Instarem Business portal. The new capability allows eligible small and medium-sized enterprises to apply for growth capital from within their existing Instarem accounts, combining payments, foreign exchange and financing in a single platform.
The embedded financing service has been live since 1 September 2025 in Singapore and Australia. It is designed to address a persistent challenge for cross-border SMEs, which often face delays and friction when accessing working capital through traditional banking channels. By integrating financing into the payments workflow, the two companies aim to help businesses respond more quickly to regional demand without giving up equity.
The launch comes amid continued growth in cross-border commerce across Southeast Asia. Intra-Southeast Asia cross-border trade is projected to reach US$14.6 billion by 2028, representing an increase of around 2.8 times compared with 2023. As more SMEs operate across multiple markets, access to faster settlement, simpler foreign exchange processes and timely financing has become increasingly important.
Revenue-linked funding available within days
Through the integration, eligible Instarem Business customers can apply for up to US$1,000,000 in revenue-linked growth financing. The underwriting process is data-driven and aligned to each business’s performance, drawing on transaction data and basic Know Your Business documentation rather than fixed collateral requirements.
Once approved, funds are typically disbursed by Choco Up in as little as two business days. The financing can be paid directly into the customer’s Instarem account or their operating bank account, allowing businesses to deploy capital quickly for needs such as inventory purchases, marketing campaigns or supplier payments. The facility is collateral-free and requires only a personal guarantee from one director.
The embedded model is intended to remove the need for separate financing applications and lengthy approval cycles. By placing funding access at the point where SMEs already manage payments and foreign exchange, the partners position financing as part of day-to-day operations rather than a standalone process.
Addressing gaps in traditional SME lending
Choco Up and Instarem both highlighted structural gaps in conventional SME financing as a key motivation behind the partnership. Many digital-first and cross-border businesses do not fit traditional credit assessment models, despite showing strong revenue growth and transaction volumes.
“Fast, flexible, non-dilutive financing lets owners stay in control of how and when they scale,” said Percy Hung, Founder and Chief Executive Officer of Choco Up. “Many digital-first businesses do not fit traditional credit boxes, yet their growth moves in real time. Embedding financing within Instarem means businesses can act at the point of need, from inventory and marketing to supplier terms, without giving up equity. We chose Instarem because it is where cross-border SMEs already operate daily: payments, foreign exchange, and now funding, in one place.”
Michael Minassian, Global Head of SME Business at Instarem, said the integration adds a practical growth lever to the company’s existing services. “Southeast Asia’s SMEs increasingly sell across borders, tapping suppliers and customers in multiple markets,” he said. “By partnering with Choco Up, we add a practical growth lever to our payments and FX stack so businesses can collect, convert, and capitalise inside a single platform. It is about reducing friction and helping regional champions scale internationally with confidence.”
Both companies bring scale to the collaboration. Choco Up has supported more than 1,000 SMEs across Singapore, Hong Kong and Australia, enabling around US$2.5 billion in gross merchandise value. Instarem processes over US$6 billion in payments annually and reports transaction speeds of up to 12 times faster than traditional banks.
Looking ahead, Instarem and Choco Up plan to deepen their technical integration by expanding the use of application programming interfaces to automate data sharing and further accelerate credit decision-making. The partners are also evaluating additional products, including invoice and trade financing, to address broader working capital needs. Expansion of the embedded financing service to Hong Kong is targeted for the first quarter of 2026.
