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Chocolate Finance takes S$500 million hit from 2 weeks’ run of redemptions; looking to return to business as usual

CEO sees the orderly manner in which platform handled the deluge of withdrawals as a success

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Benjamin Cher

Benjamin Cher

Published Tue, Mar 25, 2025 · 03:42 PM
    • Founder and CEO Walter de Oude says that the next step for Chocolate Finance is to make sure that the regulators are comfortable that things are in order.
    • Founder and CEO Walter de Oude says that the next step for Chocolate Finance is to make sure that the regulators are comfortable that things are in order. PHOTO: CHOCOLATE FINANCE

    [SINGAPORE] Around S$500 million in net withdrawals were made by Chocolate Finance’s customers – slashing the firm’s assets under management (AUM) by some 40 per cent – amid a run over the past two weeks.

    But founder and chief executive Walter de Oude is adamant that it was in no way a “meltdown”.

    In fact, he sees it as a success that the asset manager’s platform was able to handle the deluge of withdrawals in an automated and orderly manner.

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