Allen & Gledhill’s $15 Million Investment and Strategic Partnership with Chocolate Finance Catalyzes Growth and Innovation

Nikko Asset Management Leads $15M Investment in Singapore‘s Chocolate Finance

Singapore – August 12, 2025 – Nikko Asset Management Co.,Ltd. has spearheaded a US$15 million Series A+ funding round for Chocolate Pte. Ltd., the Singapore-based fintech group operating as “neobank” Chocolate Finance. The investment signifies a strategic partnership aimed at bolstering Chocolate Finance’s position in the rapidly evolving digital finance landscape.

Chocolate Finance, a licensed fund management company, currently manages S$866 million in assets as of December 31, 2024. The company distinguishes itself by offering cash savings solutions that deliver stable, above-fixed deposit returns without imposing lock-in periods – a key differentiator in attracting risk-conscious investors.

Nikko Asset Management,one of Asia’s largest asset managers with US$234.8 billion under management (as of December 31, 2024), will leverage the partnership to expand its reach within the Southeast Asian fintech sector.

Allen & Gledhill served as transaction counsel to Nikko asset Management in the deal. A separate team from the firm also advised returning investor Peak XV Partners in the round.

Key Legal Advisors:

Nikko Asset Management: Julian Ho and Adrian Ang, Partners at allen & Gledhill.
Peak XV Partners: Wong Yi Jia, Partner at Allen & Gledhill.

The rise of ‘Neobanks’ and Alternative Investment Options

This investment underscores the growing trend of traditional asset managers partnering with and investing in fintech companies. ‘Neobanks’ like Chocolate Finance are disrupting traditional banking models by offering digitally-native, customer-centric financial products.

The appeal of Chocolate Finance’s model lies in its ability to provide competitive returns without the traditional constraints of fixed deposits. This is especially attractive in a low-interest rate environment, where consumers are actively seeking alternative avenues to grow their savings.

Implications for the Southeast Asian Fintech Ecosystem

The Series A+ funding is expected to fuel Chocolate finance’s expansion plans, potentially including product diversification and regional market penetration. The involvement of a major player like Nikko Asset Management lends further credibility to Singapore’s burgeoning fintech ecosystem and signals continued investor confidence in the region’s digital finance potential.

This deal highlights the increasing sophistication of the Southeast Asian investment landscape, with a clear focus on innovative financial solutions that cater to evolving consumer needs.

How does Allen & Gledhill’s investment in Chocolate Finance align with broader trends in legal sector involvement in Web3?

Fueling FinTech Advancement: A Deep Dive

Allen & Gledhill, a leading Southeast Asian law firm, has announced a critically important $15 million investment in Chocolate Finance, a rapidly growing Web3 infrastructure provider. This isn’t merely a capital injection; it’s a strategic partnership poised to reshape the landscape of decentralized finance (DeFi) and digital asset services. The move signals a growing confidence in the long-term viability of blockchain technology and its potential to disrupt customary financial systems.This partnership focuses on bolstering Chocolate Finance’s technological capabilities and expanding its reach across key markets.

Understanding Chocolate Finance: Core Services & Technology

Chocolate Finance specializes in providing essential infrastructure for Web3 projects, including:

Node-as-a-Service (NaaS): Simplifying access to blockchain networks for developers.

Data APIs: Delivering reliable and extensive blockchain data for analytics and request development.

developer Tooling: Offering tools to streamline the building and deployment of decentralized applications (dApps).

Staking & Validator Services: Supporting the security and efficiency of Proof-of-Stake blockchains.

Their core technology focuses on scalability, security, and developer experience – critical components for mainstream Web3 adoption. The company currently supports major blockchains like Ethereum, BNB Chain, Polygon, and Avalanche, with plans for expansion. This focus on multi-chain support is a key differentiator in the increasingly fragmented Web3 ecosystem.

Allen & Gledhill’s Rationale: Beyond Legal Expertise

While known for its expertise in corporate law,regulatory compliance,and dispute resolution,Allen & Gledhill’s investment demonstrates a forward-thinking approach. The firm recognizes the increasing convergence of legal frameworks and blockchain technology.

Here’s a breakdown of the strategic benefits for Allen & Gledhill:

Enhanced Legal Tech Capabilities: Gaining firsthand insight into the technical complexities of Web3 will allow the firm to better advise clients navigating this evolving space.

Market Positioning: Establishing itself as a leader in the legal aspects of digital assets and DeFi.

Client Service Expansion: Offering a broader range of services to clients involved in blockchain-based ventures.

Innovation Driver: Fostering internal innovation and attracting talent with expertise in emerging technologies.

This investment isn’t about simply profiting from a rising market; it’s about proactively shaping the future of financial services law.the firm’s deep understanding of regulatory landscapes across Southeast Asia is especially valuable to Chocolate Finance’s expansion plans.

Impact on the Web3 Ecosystem: Catalyzing Innovation

The $15 million investment will be allocated to several key areas:

1. Technology Development: Expanding Chocolate Finance’s infrastructure to support new blockchains and features. This includes improvements to their API infrastructure and the development of new developer tools.
2. Geographic Expansion: Focusing on key markets in Southeast Asia, including Singapore, Indonesia, and Vietnam – regions experiencing rapid growth in Web3 adoption.
3. Talent Acquisition: Recruiting top engineers, developers, and blockchain experts.
4. Regulatory Compliance: Strengthening compliance measures to ensure adherence to evolving regulations.

This influx of capital is expected to accelerate the development of new dApps and Web3 services, fostering greater innovation within the ecosystem. The partnership also aims to address key challenges facing the industry, such as scalability, security, and regulatory uncertainty.

Regulatory Considerations & Legal Frameworks

The regulatory landscape surrounding digital assets remains complex and varies significantly across jurisdictions. Allen & Gledhill’s expertise in navigating these complexities will be crucial for Chocolate Finance’s growth. Key regulatory areas include:

Securities Laws: Determining whether digital assets qualify as securities and the associated compliance requirements.

Anti-Money Laundering (AML) & Know Your Customer (KYC) Regulations: Implementing robust AML/KYC procedures to prevent illicit activities.

Data Privacy Regulations: Ensuring compliance with data privacy laws, such as GDPR and PDPA.

Tax Implications: Addressing the tax implications of digital asset transactions.

The partnership will likely focus on developing best practices for regulatory compliance within the Web3 space, contributing to a more stable and enduring ecosystem. Allen & Gledhill’s involvement provides Chocolate Finance with a significant advantage in navigating these challenges.

Future Outlook: A Synergistic Relationship

The collaboration between Allen & Gledhill and Chocolate Finance represents a strategic