Singapore Wealthtech Chocolate Finance Appoints Shiv Sharma as Chief Business Officer

Leadership Addition Signals Growth Push

Chocolate Finance has appointed Shiv Sharma as Chief Business Officer, marking a strategic hire as the Singapore-based digital wealth platform targets expansion beyond its home market. Sharma joined in June 2026 and reports directly to founder and CEO Walter de Oude.

In his new role, Sharma oversees customer acquisition, strategic partnerships, and corporate development. His responsibilities span both growth and finance functions as Chocolate Finance transitions from its initial launch phase to what de Oude describes as "super scale" operations.

Sharma arrives with experience from both fintech and enterprise technology sectors. He previously served as President and Chief Operating Officer at Stocktwits, the social platform for investors and traders. Before that, he held positions at Amazon Web Services and Cisco, bringing operational expertise from companies that scaled across multiple markets.

Assets Under Management Climb 60%

The appointment coincides with Chocolate Finance marking its second anniversary. The company disclosed that assets under management now approach S$1.5 billion, representing roughly 60% growth from the prior year. The platform serves approximately 150,000 customers and has generated over S$50 million in returns since launching in 2024.

Those figures position Chocolate Finance among Singapore's growing roster of wealthtech platforms competing for retail investors seeking alternatives to traditional bank deposit accounts and brokerage services. The city-state has emerged as a hub for digital wealth management, supported by a regulatory framework that allows licensed platforms to offer automated investment products.

Chocolate Finance operates under a model that emphasizes accessibility and transparency in wealth management. The platform offers portfolio products designed for retail customers, a segment that has expanded rapidly across Southeast Asia as smartphone penetration increases and younger investors enter the market.

Expansion Plans Take Shape

De Oude framed the hire as part of a deliberate shift in company strategy. The initial phase focused on establishing product-market fit in Singapore. The next phase involves geographic expansion, product diversification, and scaling operations while maintaining what he called "the discipline needed for sustainable growth."

Sharma acknowledged the foundation already in place. The company has built customer demand and established brand recognition within Singapore's competitive fintech landscape. His mandate centers on building additional products, entering new markets, and steering the company through its next growth chapter.

The emphasis on "world-class operators" suggests Chocolate Finance is preparing for intensified competition both at home and in regional markets. Singapore-based fintechs often use the city as a launchpad before expanding into Indonesia, Malaysia, Thailand, and Vietnam, where large unbanked or underbanked populations present opportunities for digital financial services.

Regional Wealthtech Landscape

Chocolate Finance's trajectory reflects broader trends in Southeast Asian wealthtech. Digital wealth platforms have proliferated across the region, fueled by rising incomes, increased financial literacy, and regulatory support for innovation. Governments in Singapore, Hong Kong, and other financial centers have introduced licensing regimes that allow technology-driven platforms to compete with incumbent banks and asset managers.

The sector has attracted significant venture capital and private equity investment over the past three years. Investors see potential in a region where traditional wealth management services have historically been reserved for high-net-worth individuals, leaving mass-market customers underserved.

Chocolate Finance's growth rate and customer base suggest it has captured a share of this expanding market. The challenge now lies in replicating that success in neighboring countries, each with distinct regulatory environments, customer preferences, and competitive dynamics.

The company has not disclosed specific markets targeted for expansion or timelines for new product launches. However, the hire of a senior executive with partnership and corporate development experience signals that discussions with potential partners and regulators in target markets may already be underway.

For Chocolate Finance, the next twelve months will test whether the platform can maintain growth momentum while entering unfamiliar territories. The appointment of Sharma provides the operational leadership needed for that transition, but execution in Southeast Asia's fragmented fintech landscape remains the defining challenge.