Choco Up, Set Sail AI forge partnership to help businesses grow through Gen AI adoption

Choco Up, Set Sail AI forge partnership to help businesses grow through Gen AI adoption

Percy Hung, Founder and CEO of Choco Up

Choco Up, a revenue-based financing (RBF) and growth platform, recently announced that it has partnered with Set Sail AI, an intelligent contact centre solution provider, to promote the adoption of generative AI solutions among businesses and merchants.

The collaboration will allow Set Sail AI’s customers to access Choco Up’s RBF platform, facilitating the expansion of sales, marketing, and distribution channels for Generative AI technology in Hong Kong and beyond. This partnership aims to unify customer care and lead generation, drive sales, and provide a more holistic customer experience.

Generative AI has the potential to significantly boost global economic output, enhance productivity, and improve customer service by transforming various sectors. Studies suggest that the technology could reduce human-serviced contact volumes by up to 50 per cent and increase productivity in marketing functions by five to 15 per cent.

Set Sail AI’s premier product, the SaaS Gen AI Agents Building Platform, was created to help businesses create customised AI agents for various functions. It manages around 120 million inquiries annually and significantly reduces customer wait times.

Choco Up, with a history of providing swift and flexible financing solutions, has financed over US$1 billion in gross merchandise value in Asia Pacific, helping clients increase revenue, launch new products, expand user bases, and achieve successful acquisitions.

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In an email interview, Choco Up Co-founder and CEO Percy Hung explained to e27 how the partnership came to be and how they aim to help businesses embrace Generative AI.

The following is an edited excerpt of the conversation.

Can you tell us about how the partnership came to be?

We met through mutual business partners and quickly realised a shared vision: helping businesses grow. Set Sail AI has a robust client base seeking to enhance customer experience through AI solutions, but many lack the necessary capital to invest in these solutions. Our discussions revealed that combining our expertise could bridge this gap, enabling clients to leverage advanced AI without financial constraints.

What specific problem does the partnership aim to solve, as the two companies seem to serve two different aspects of business (financing and customer relations)?

This partnership aims to streamline the adoption of generative AI solutions for businesses and merchants. Choco Up’s mission is to fuel business growth, while Set Sail AI provides tools to enhance customer experience and drive sales through AI. By offering flexible payment terms, we enable more clients to realise their potential.

For instance, Choco Up clients expanding into new markets can use Set Sail AI’s tools to quickly launch chatbots in local languages, improving customer interaction and service. Conversely, Set Sail AI will benefit from faster payments through the B2B Buy Now Pay Later model, allowing them to reinvest funds into R&D and further advance their AI solutions.

What is the unique proposition that you offer to your users with this partnership? How does AI play a role in that?

Our unique proposition combines Set Sail AI’s advanced contact centre solutions with Choco Up’s flexible financing, enabling the seamless adoption of generative AI technologies. This partnership leverages AI’s potential to enhance productivity, personalise marketing, and improve customer service, which is estimated to boost global economic output by up to US$4.4 trillion annually.

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Set Sail AI provides tools that automate tasks, optimise interactions, and reduce wait times, allowing businesses to create customised AI agents for various functions. Choco Up offers swift, flexible financing that supports growth without requiring equity, enabling investment in technologies like Set Sail AI’s solutions.

Jovian Ling, Co-founder and Director of Set Sail AI

For example, AsiaPay (PayDollar) used Set Sail AI’s chatbot to increase sales by 70 per cent for more than 500 merchants within 12 months, allowing merchants to comprehensively manage customers from various channels more effectively with AI.

This partnership helps businesses improve customer interactions and service quality while ensuring they have the necessary resources. Together, we enable businesses to achieve efficiency gains, reduce contact volumes, and focus on growth and innovation.

What is your target for this partnership? How many users do you aim for in the first year? Is there any specific profile of users that you are targeting?

Our goal is to engage businesses across various industries that can benefit from generative AI solutions. In the first year, we aim to onboard users primarily from sectors such as e-commerce, retail, and F&B, where the impact of AI-driven enhancements is most profound. We are targeting companies looking to scale, improve customer engagement, and streamline operations.

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What other areas would you like to explore in the future through this partnership? What other plans do you have this year for this partnership?

In the future, we aim to explore additional industries where generative AI and flexible financing can drive significant value. These include sectors such as aviation, real estate and healthcare, where AI can enhance efficiency, personalise services, and streamline operations.

By leveraging Set Sail AI’s advanced solutions and Choco Up’s financing capabilities, we can facilitate the adoption of AI technologies in these sectors, helping businesses to innovate and grow.

Image Credit: Choco Up, Set Sail AI

The post Choco Up, Set Sail AI forge partnership to help businesses grow through Gen AI adoption appeared first on e27.

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