After revolutionising life insurance, Singlife Founder Walter de Oude is now focused on optimising cash returns for everyone through the launch of Chocolate Finance.
Chocolate Finance offers a spare cash management account. It backs its returns with a diversified investment strategy. It leverages high-performing, short-term investment-grade fixed-income funds and money market funds to target higher yields than similar existing products in the market.
It offers a top-up incentive programme for customers’ first $20,000, wherein it will top up the difference if the underlying portfolio does not achieve the target rate of 4.2% p.a. The top-up programme will last during the qualifying period, which may be extended from time to time. The target for amounts beyond the first $20,000 is at 3.5% p.a.
Besides that, Chocolate Finance offers easy sign-ups, a Chocolate Visa debit card for customers to add or withdraw any amount at any time, and zero fees until customers achieve the target return.
To ensure safety, Singpass MyInfo is used for secure identity verification. Chocolate Finance also provides real-time transaction alerts with funds held in custodian accounts with HSBC and State Street, offering robust protection.
Chocolate Finance holds a Capital Market Services licence from the MAS (CMS101452) and is regulated to perform fund management activities. It is backed by venture powerhouses including Saison Capital, Peak XV Partners (previously known as Sequoia Capital), Prosus, and GFC.
See also: Younger consumers in Singapore more receptive towards AI agents
“Our belief is this—when your money is happy, you’re happy too. We’re simply reinventing how to make your money work harder. We want to remove the friction and barriers traditionally prevalent in the personal finance space, such as complicated criteria, long lock-in periods or low liquidity, and high fees. Instead, we’ve built a simple, seamless place where you and your money can be happy. All the while, being in compliance with the Singapore financial services regulatory framework,” says Walter de Oude, founder and CEO of Chocolate Finance.
