K2 Partnering Solutions, a provider of unique end-to-end consultative technology solutions in the enterprise application and software space, today announced its acquisition of Openlogix, a US-based technology consulting firm specializing in digital transformation and software development.
Openlogix, based in Bloomfield Hills, Michigan, is a top Salesforce, MuleSoft and IBM business partner with over 16 years of experience in delivering digital transformation solutions such as enterprise application integration, Customer 360, and application modernization. The firm partners with customers in industries such as Utilities, Financial Services, Insurance, Technology and Telecommunications.
The acquisition allows K2 to expand within its current ecosystems and provides a unique opportunity to efficiently scale its delivery capabilities and further expand its footprint in the U.S., India and Latin America. Openlogix’s team of experienced consultants and developers will also enhance K2’s ability to deliver customized solutions to clients.
The partnership will create synergies and opportunities for Openlogix to gain market share and provide it with a global platform to accelerate expansion in North America and new markets.
The acquisition is K2’s 8th since December 2020 and supports the group’s ongoing strategy of growing its portfolio through complementary acquisitions in the consultative technology solutions space.
“We are excited to welcome Openlogix to the K2 family,” said Antonio Gulino, CEO of K2 Partnering Solutions. “Steve, Ramani and the talented Openlogix team have built a great company. Their expertise and experience in digital transformation will strengthen our ability to provide innovative solutions to our clients around the world.”
“Our goal has always been to successfully carry out digital transformations for businesses of all sizes with a core focus on enterprise application integration,” said Steve Lokam, Founder and CEO of Openlogix. “Joining forces with K2 will bring about exciting synergies that will strengthen our unwavering commitment to deliver exceptional services to our valued customers.” Ramani Lokam, Vice President, Operations of OpenLogix said: “We are excited about the potential opportunities that this will bring to our employees. With K2’s widespread presence, it will create new possibilities for our partners and employees worldwide.”
K2 Partnering Solutions continues to support leading corporate enterprises seeking highly-skilled human capital and integrated solutions to develop, implement and operate critical technology and business solutions. The business provides an integrated end-to-end offering of Talent Solutions, Managed Solutions, Education and Human-Cloud Communities.
Contact Information:
Dylan Griffiths
Senior Vice President Marketing
dgriffiths@k2partnering.com
0203 893 4433
SOURCE: K2 Partnering Solutions
Category: Digitalization
Accurate Background Acquires Australia’s VerifyNow
- The Next Step in Accurate’s Leadership as a Global Screening Provider
Accurate Background, the world’s largest privately held provider of compliant background checks, drug and health screening, and monitoring solutions, today announced the acquisition of VerifyNow Pty Ltd, an employment screening provider in Australia. The acquisition complements Accurate’s global strategy and expands its portfolio of international compliance-driven employment screening solutions. VerifyNow will continue to operate under the leadership of Khai Ngo, who will join Accurate’s senior leadership team.
“We remain committed to our global employment screening capabilities while continuing to advance our innovative approach to candidate and client experience, screening technology, and compliance expertise,” said Tim Dowd, CEO of Accurate Background. Dowd added, “Accurate and VerifyNow have been partners for several years, and we are excited to deepen this relationship as we seek to better serve our clients’ background screening needs in Australia and beyond.”
The acquisition further expands Accurate’s global business footprint and comes on the heels of the successful acquisition of Vero Screening in July 2022. Accurate gains a new office in Australia, where the VerifyNow team will continue to serve its existing client base while offering support to Accurate’s roster of multinational clients.
“Our customers and employees will benefit greatly from this acquisition by Accurate as we look to expand our service and capabilities within Australia and New Zealand and provide better screening options for multinational clients with the Accurate platform,” said Khai Ngo, the CEO of VerifyNow.
To manage the global expansion, Aaron Hayes has been promoted to General Manager and EVP, International, overseeing Accurate’s EMEA and APAC regions.
“The need to tap into a global hiring pool continues to grow, and employment screening on an international level is more important than ever,” said Hayes. “Our expanded global footprint helps us serve Accurate customers with an entrepreneurial mindset and helps ensure a seamless, unified candidate experience at scale.”
Dowd added, “As we evaluate opportunities to expand our business footprint to better serve our customers, it is vital that we select partners who share our vision, our values and strengthen our overall capabilities for our customers. We look forward to the opportunities that this acquisition will bring.”
Financial terms of the transaction were not disclosed. Gilbert + Tobin represented Accurate in the transaction while the sellers of VerifyNow were represented by MV Law.
About Accurate Background
Our vision is to make every hire the start of a success story. As a trusted provider of employment background screening and workforce monitoring services, Accurate Background gives companies of all sizes the confidence to make smarter, unbiased hiring decisions at the speed of demand. Experience a new standard of support with a dedicated team, comprehensive technology and insight, and the most extensive coverage and search options to advance your business while keeping your brand and people safe. To learn more, visit accurate.com.
About VerifyNow
The VerifyNow mission is to help organisations build a trusted workforce. We offer a range of background checks and assessments to support the screening of new hires and the existing workforce. We also offer expertise in psychometric and aptitude testing. To learn more, visit verifynow.com.au.
Media Relations Contacts
Media@accurate.com
VerifyNow Contact
info@verifynow.com.au
SOURCE: Accurate Background LLC
Think Equity: Society Pass (Nasdaq: SOPA) – Path to Profitability
Think Equity, LLC (Think Equity) issues research report on Society Pass Inc. (Nasdaq: SOPA) (SoPa), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem.
Click Here (on Society Pass website) to view the full Think Equity research report. https://thesocietypass.com/wp-content/uploads/2022/09/ThinkEquity_SocietyPass_Initiation_ResearchReport_26Sep2022.pdf
Summary Points:
- Path to Profitability – Revenues are forecast to grow from $6 million in 2022 to $42 million in 2023. The company is well capitalized, with an estimated cash position of $20 million. Monthly cash burn has declined from an average of $1.2 million for the nine months through September 2022 to $150K by December 2022. The company’s objective is to achieve operational breakeven by the second quarter of 2023. The company’s target EBITDA for 2023 is 10%.
- Holding Company – The group has acquired eight companies, seven of which were in 2022. Management targets 7 to 10 acquisitions in 2023. The company has pivoted away from organically developing a loyalty platform to making acquisitions. The acquisition model focuses on three KPIs – revenues, users, and merchants. Revenues have grown from $10,000 in 2019 to $50,000 in 2020, $520,000 in 2021, and $6.1 million in 2022. In addition, the company has on-boarded 3.3 million registered consumers and 200,000 registered merchants.
- Loyalty – The company beta launched its loyalty platform in June 2022 and plans a hard launch in the second quarter of 2023. The company has an impending digital wallet partnership with Alipay, the payments arm of the Alibaba Group. The company intends to build out the loyalty app with its digital wallet partnership with Alipay into a de facto payments platform for Southeast Asia.
- Lifestyle – Society Pass acquired Leflair, based in Vietnam, out of bankruptcy in 2021. The company has rebuilt the platform, onboarding users and merchants. Up from $500,000 in revenues in 2021, Leflair generated over $2 million in sales in 2022. The company intends to spin out Leflair as a separate publicly listed company in 2023.
- Food and Beverage Delivery – The company acquired three F&B delivery companies in Vietnam and Philippines in 2022. The company generated $100,000 in food and beverage delivery in 2022. The company is not investing in food and beverage delivery as it is inherently an unprofitable business. But the company has on-boarded 700K registered users onto its platform. That’s in addition to the 1.5 million registered users on-boarded via the Leflair acquisition.
- Telcoms – Gorilla is a Singapore-based, blockchain/web3 technology-enabled mobile virtual network operator. Society Pass acquired it for its technology. The company is taking that blockchain/Web three technology and infusing it into the rest of the ecosystem.
- Digital Media – Thoughtful Media, a leading influencer advertising company in Southeast Asia, generated $6.5 million in sales in 2022. Thoughtful Media has over 200 channels on its multichannel network and over 300 influencers. The company targets to grow revenues from $6.5 million in 2022 to $30 million by 2023, with a target 15% EBITDA margin.
- Travel – With NusaTrip acquisition, Society Pass has on-boarded a total of 3.3 million registered users and over 200,000 registered merchants. An estimated 99% of business at NusaTrip is airlines versus 1% hotels. The revenue rate earned from selling airline tickets is 2% – 3% compared to 7% – 20% for hotels. NusaTrip plans to change the revenue mix from 99%/1% to 80%/20% by the end of the year.
- Valuation – Our 12-month price target is $6 based on 4x FY23 sales per share estimate. This valuation multiple is within the peer group valuation range.
About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.
SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.
Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.
For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media Contacts:
PRecious Communications
sopa@preciouscomms.com
Corinium Presents: CDAO Singapore
Corinium’s Chief Data & Analytics Officer (CDAO) Singapore returns for its 2023 edition to convene and to connect leading data and analytics executives, innovators, technologist, and business leaders with one goal in mind – to strategize and achieve data success within your organisation.
Data and analytics are an integral part of every successful business, and its role has risen to become more prominent and significant over the past year. Businesses leverage data to make critical business decisions to gain a competitive edge in the market. However, data and analytics leaders are constantly facing challenges from the sheer amount of data being collected and analysing it in real-time. Data leaders also need to adhere to governance and ethics and keep up with the speed of innovation, evolving customers’ expectations, and changing talent market.
2023 Key Themes:
– Infrastructure, Governance, Ethics, Privacy – Upgrading infrastructure and integrating legacy and incumbent system, and a look into operationalising data governance to ensure security, privacy, and ethical use of data and AI
– Data Strategy and Democratization – Preparing proactively for easy access to data, unlocking the true value of data, and using data as an enabler of growth and innovation
– The Future of AI in Analytics – Exploring how we have been using AI, how AI is shaping the future of analytics, and how to balance the wide use of AI with efficiency, productivity, and of course, ethics
– Data Monetisation – Increasing revenue using data and a look into how data is paving a way for new products, services, and process improvement
Register Today!
For Further details regarding this event, visit our website
https://cdao-sg.coriniumintelligence.com/
You can contact us at:
info@coriniumintel.com
HotelRunner Launches ‘Autopilot’, Ushering in a New Era of Data-Driven Smart Automations in Travel and Hospitality
HotelRunner, the leading accommodation and travel technologies platform, launches Autopilot at ITB Berlin 2023. Having garnered great attention with its innovative business intelligence platform ‘Insights’ which was unveiled last year, and getting the new year off to a running start with recent funding news, HotelRunner introduces its AI-driven, intuitive, and smart platform to automate the sales, distribution, and operations of the accommodations.
Setting out with the goal of automating all daily operations of a hospitality business, from marketing activities to pricing strategies, HotelRunner introduces Autopilot. The new platform leverages the reservations volume processed in HotelRunner which is more than 3 million in the past year alone.
Accommodation businesses can effortlessly implement sophisticated sales and pricing strategies by transferring all their daily operations and industry expertise to the Autopilot platform as a set of rules and automations.
As the driving force behind the industry with its superior technology, HotelRunner stays ahead of the curve in meeting the future needs of all the stakeholders in the travel and accommodation industries. The Autopilot platform, born from years of research and development and industry experience, has been designed in a way that accommodations can interact with the entire tourism ecosystem. Not only it enables a property to automate its operations, but also evolves to encompass the collective knowledge of all industry players contributing to a property’s success. Thus, HotelRunner leads the creation of a first-of-its-kind automation marketplace. With this innovative platform, HotelRunner maps out the future of tourism technologies.
“The Autopilot platform is a crucial component of our comprehensive vision to serve and advance the travel and hospitality industries. We began the era of data-driven decision-making in hospitality with the launch of the Insights platform in November last year. With the Autopilot, we firmly build upon this vision, cracking the doors of a new era where software serves people, rather than the other way around,” says Ali Beklen, Founder and Managing Partner of HotelRunner.
“With our innovative Autopilot technology, we challenge conventional wisdom in hotel management and offer a fresh perspective to the industry. By leaving manual processes behind, we offer our partners effortless efficiency and strive to increase their profitability. Driven by AI and evolving constantly, the Autopilot is just the starting point of the revolution we aim to ignite in the travel and hospitality industries. We are setting a new standard for industry players to do business and interact with each other,” adds Arden Agopyan, Founder and Managing Partner of HotelRunner.
The Autopilot platform allows properties to:
– Automate pricing and availability by seasons, holidays, and weekends.
– Monitor reservation activity in real-time and take action according to the demand.
– Benefit from AI-based recommendations and alerts to maximize their profits.
– Minimize the workload with automations that work fully integrated with their PMS and channel manager.
HotelRunner Autopilot has been in the closed beta program for one year, and has already been contributing to the increasing revenues of the properties using the platform. Click here to get detailed information about the HotelRunner Autopilot platform and to start using it. https://hotelrunner.com/en/features/autopilot/
Contact Information
Suheyla van Taarling
Head of Brand
suheyla@hotelrunner.com
SOURCE: HotelRunner
Axiata Joins Global Telcos to Deploy GSMA Open Gateway at MWC Barcelona 2023
The culmination of MWC Barcelona 2023 on 2 March saw Axiata Group Berhad positioned to take the lead in Asia in deploying GSMA Open Gateway, joining other leading telcos to herald a new wave of digital services and apps at the mobile telecommunications convention.
GSMA’s Open Gateway initiative was launched on the opening day of MWC on 27 February 2023. Supported by 21 Mobile Network Operators (MNOs) globally, the framework of universal network Application Programmable Interfaces (APIs) is designed to provide universal access to operator networks for developers. The GSMA-led initiative is a federated approach to harmonise the industry around Open APIs and represents a paradigm shift in the way the telecoms industry designs and delivers services in an API economy.
At the GSMA Pavillion, Axiata showcased the Axiata Digital Concert Platform, featuring MetaStage, the Group’s first ever metaverse concert powered by Axiata Digital Labs’ (ADL) Axonect, and hosted by Sri Lanka’s Dialog Axiata and Indonesia’s XL Axiata. The immersive musical fest showcased GSMA’s Open Gateway APIs for Number Verification (SMS 2FA), Device Location and Carrier Billing.
Enabling Digital Transformation
ADL, a telco-focused software and solutions provider, delivered MetaStage through its Axonect Enterprise Enabler Product Suite. This proof-of-concept showcased the suite of services available to MNOs to enhance existing services and deploy new ones to its customers. ADL’s demonstration of the GSMA Open Gateway-compliant Axonect Product Suite highlighted its potential as a powerful tool for digital innovation and transformation.
This was further underscored by its collaboration with Amazon Web Services (AWS) announced on 1 March 2023, whereby ADL will begin providing Axonect Product Suite running on AWS. With this collaboration, ADL will be able to provide customers with its suite of systems and tools, such as its Digital Business Support System (BSS), 5G and cloud optimized business-to-business (B2B) and business-to-consumer (B2C) platforms, and multi-domain orchestrators on AWS. ADL’s customers will have access to AWS’s global infrastructure and the breadth and depth of cloud capabilities.
Communication Service Providers (CSPs) will also be better supported as they embark on the transformational journey along the Telco to TechCo continuum, moving beyond traditional connectivity to platform-based products and services as part of an ecosystem, thereby reaping benefits such as improved performance, a competitive advantage in big data, and new revenue streams.
Partnership with SK Telecom for ‘ifland’
At MWC Barcelona 2023, Axiata also signaled its strong interest in bringing the metaverse platform ‘ifland’ developed by South Korea’s SK Telecom (SKT) to its markets. A Memorandum of Understanding (MoU) was signed between the two telco giants on 28 February 2023, enabling Axiata’s subsidiaries the ability to develop metaverse platform business models and support AI-based opportunities that are market competitive.
The signing, represented by SKT’s CEO, Ryu Young-Sang and Axiata’s Joint Acting Group CEOs, Dr Hans Wijayasuriya and Vivek Sood, is part of Axiata’s digital transformation and inclusivity strategy.
“As part of the Group’s vision to be The Next Generation Digital Champion, we are deeply committed to leveraging emerging technologies towards the inclusive advancement of Societies and Economies across Asia,” said Dr Hans Wijayasuriya, who is also Axiata’s CEO of Telecommunications Business and Group Executive Vice President. “We are proud to partner with SKT and the ifland platform and consider the partnership a significant component of our participation in the metaverse going forward.”
All in all, this week at Barcelona was pivotal in Axiata’s journey towards becoming The Next Generation Digital Champion, putting in place the building blocks to enable the ecosystem for digital telcos to move into their new future.
About Axiata
In pursuit of its vision to be The Next Generation Digital Champion, Axiata is a diversified telecommunications and digital conglomerate operating Digital Telcos, Digital Businesses and Infrastructure businesses across a footprint spanning ASEAN and South Asia.
The Group has controlling stakes in market-leading mobile and fixed operators in the region including ‘XL’ and ‘Link Net’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and ‘Ncell’ in Nepal while ‘CelcomDigi’ in Malaysia is a Key Associate Company. Axiata’s regional digital business verticals comprise ‘Boost’ a fintech company, and ‘ADA’, a digital analytics and AI company. ‘EDOTCO’ is among the top 10 independent TowerCos globally, operating in nine countries to deliver telecommunications infrastructure services.
As a committed and long-term investor, the Group actively supports and drives young talent development; community outreach; as well as climate change initiatives. Axiata’s broader goal of Advancing Asia aims to piece together the best in the region in terms of innovation, connectivity and talent to drive digital inclusion and sustainable progress across our markets. Find out more at www.axiata.com
Axiata Group Berhad [XKLS: 6888][RIC: AXIA:KL ][BBG: AXIATA:MK][OTC: AXXTF]
Society Pass Inc. (Nasdaq: SOPA)’s NusaTrip Continues Expansion in Southeast Asia (SEA), Extending Services to Vietnam
NusaTrip, Indonesia’s first IATA-certified online travel agency (OTA) and the travel vertical of Nasdaq-listed Society Pass Incorporated (SOPA), today announces the opening of an office in Ho Chi Minh City, Vietnam, representing its third SEA regional office outside of Jakarta, following the opening of its offices in Singapore and Manila earlier this year.
Post the Covid-19 pandemic, Vietnam reopened its doors to international travelers back in March 2022, and since then domestic tourism has seen a strong recovery, receiving about 4 million international travelers last year. According to ASEANFocus, 16 million international tourists and 80 million domestic travelers are projected to spend US$34 billion total travel revenue from 2024 to 2026. In addition, Civil Aviation Authority of Vietnam also expects a full travel recovery by December 2023 with around 34 million passengers from Vietnam expected to travel internationally, tripling the travel volume from 2022.
With the aim of increasing its service portfolio across SEA as well as boosting tourism in Vietnam, NusaTrip is well-positioned to grasp the huge market potential and serve additional communities in the region. NusaTrip regional offices focus on creating more variety of marketing initiatives and managing existing business relationships with airlines, hotels and tourism promotion board as partners.
NusaTrip CEO Johanes (Joe) Chang said, “The opening of our office in Vietnam reaffirms our commitment to bring the unparalleled travel experience to more customers in one of the fastest growing regions throughout SEA. NusaTrip will continue to enhance its service portfolio and innovate to cater to changing customer behaviors and fuel growth in the region. Considering the market potential, NusaTrip also plans to open more offices across SEA to bring customers an intimate and one-stop booking experience”.
Leveraging the upbeat momentum of the travel and tourism industry post-COVID-19 pandemic, NusaTrip is striving to expand its service offerings in the travel market.
“We are beyond excited to welcome domestic and international travelers onboard our NusaTrip platform. With revenge travel in full swing, this additional choice for consumers is highly timely, especially for those who intend on visiting some of the 3,000 over beautiful islands in Vietnam. SEA is a dynamic and diverse engine of growth for NusaTrip. As recovery continues, we are optimistic towards the market in Vietnam”, explained Ngo Thi Cham, Society Pass Vietnam Country Manager.
Last year, Society Pass acquired NusaTrip, a Jakarta-based online travel agency to foray into the travel business in SEA. The deal also marked SoPa’s entry into Indonesia as well as to its growing ecosystem of technology-enabled companies located in Vietnam, Indonesia, Philippines, Singapore and Thailand.
About NusaTrip
Founded in 2013, NusaTrip is an IATA-licensed online travel agency that serves both local and global customers and partners by optimizing cutting-edge technology and providing 24/7 customer-centric support team-as-a-service. NusaTrip is now an integral member of Society Pass (Nasdaq: SoPa) ecosystem. For more information, please visit: https://www.nusatrip.com.
About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.
SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.
Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.
For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media Contacts:
PRecious Communications
sopa@preciouscomms.com
Verofax to raise US$750,000 on Beban Crowdfunding Platform
- Offering GCC retail investors interactive access to private equity investment opportunities
Verofax, the leader in brand marketing and AI-powered solutions for enterprise, was featured on Beban 2 (Episode 9, Mar 1, 2023), the hit entrepreneur & investment-themed reality TV program airing on Bahrain TV, Alrai TV and Dubai TV, as well as Shahid, the region’s largest video-on-demand platform.
Beban is the world’s first TV show to provide an interactive crowdfunding element – Beban Crowdfunding, a secure platform licensed and regulated by the Central Bank of Bahrain which offers retail and accredited investors a unique interactive access to private equity investment opportunities, such as Verofax.
GCC investors can participate in Verofax’ US$750,000 fundraising round through the Beban Crowdfunding platform, with investments beginning as reasonably as $100. The new investors will be joining leading VC investors including 500 Startups, Dubai Angel Investors, Dubai Silicon Oasis, Benson Oak Ventures, Privity FZ LLE and Wami Capital.
An alumnus of government-sponsored programs MBRIF (Mohammed Bin Rashid Innovation Fund & Accelerator) and Hub71, the UAE-based Verofax is a growth-stage startup serving a diverse clientele including Fortune 100 brands and sustainable enterprise through operations in Europe, North America, Asia, Africa and the Middle East.
Verofax recently won the award for ground-breaking use of Artificial Intelligence at LEAP Saudi Arabia (Feb, 2023), and announced the setting-up of operations in Ryadh, a key growth market for 2023, with the Saudi Ministry of Communications and Information Technology (MCIT) Tech Champions, a soft-landing accelerator powered by Plug and Play.
Wassim Merheby, CEO of Verofax, said “Participating in the Beban program provided us with a platform to showcase our technology, and through the Beban Crowdfunding Platform, to offer retail investors an opportunity to invest in our solutions which disrupt online marketing, and deliver unmatched results to customers and amazing experiences to end consumers.
“Investors in Verofax will benefit from the potential disruption to online marketing, and turning the products into a brand’s best marketing channel. At Verofax, our aim is to empower brands to connect with their customers in new and innovative ways,” said Merheby.
Fatima Al Naqbi, Chief Innovation Officer at the Ministry of Finance and MBRIF representative, said: “We are thrilled to see such progress at Verofax, a company that we have proudly supported throughout its growth journey. Moreover, it’s exciting to offer retail investors the chance to share in the growth of a dynamic company, transforming the online marketing industry through its innovative solutions.
“MBRIF is committed to accelerating innovation by providing startups with the necessary resources to achieve the goals of expansion and growth. Through our Accelerator program, we offer tailored support, paving the way for these companies to succeed. Our role in Verofax’ journey is testament to our unwavering support of innovative and ambitious companies as they strive to impact the community. We look forward to continuing our support,” said Ms Al Naqbi.
Verofax has developed a proprietary, patented AI-powered product winning service that provides enterprises with increased supply chain transparency, reduced operational cost, and enhanced customer engagement. By leveraging Verofax’ award-winning, scalable technology with low-cost rapid deployment, businesses can begin to accrue benefits immediately with:
* MarTech solutions: Turning every product into an interactive direct communication channel to consumers, allowing brands to acquire and retain customers by providing relevant and personalized recommendations. By simply scanning unique identities on primary packaging, brands can convert the 60% of consumers that decide on a purchase in multi-branded stores while lowering acquisition costs by 20X vs. online marketing channels.
* Web3 rewards: helping brands to build lasting relationships with consumers and increase Customer Lifetime Values (CLTV) by adopting Web3 rewards such as brand NFTs that cost a fraction of loyalty programs.
* Retail and eCommerce virtualization: Delivering immersive and personalized shopping experiences with in-store Augmented Reality and 3D shopping experiences in e-commerce marketplaces, offering delight to 83% of consumers that expect an upgraded shopping experience vs. the current flick & click experience.
* Supply Chain transparency: providing brands with end-to-end inventory traceability to optimize availability and prevent price dilution. Counterfeiting and product diversion eats up to 30% of some industries, damaging brands’ reputations and posing severe threats to public health.
* Sustainable passporting: Helping brands become sustainable by measuring and certifying their products across complex multi-tiered supply chains and engaging directly with consumers for loyalty and advocacy.
Verofax’ solution is validated and available on partner platforms, including Oracle, Microsoft, Ant Group, Zebra, SAP and AWS. Discover the benefits of partnering with Verofax at www.verofax.com.
Investors interested in learning more about the fundraise and participating in Verofax’ journey through the Beban Crowdfunding platform should visit the Beban website at www.beban.me, and refer to the Verofax crowdfunding page at www.beban.me/campaign/verofax-.
Contact Verofax, and register for social updates:
Website: https://verofax.com/contact-us/
Instagram: https://www.instagram.com/verofaxltd/
YouTube: https://www.youtube.com/@verofaxlimited8482
Promo Video: https://youtu.be/tmekYUuRDjI
FaceBook: https://www.facebook.com/verofax
TikTok: https://www.tiktok.com/@verofaxlimited
Twitter: https://twitter.com/VEROFAXLTD
LinkedIn: https://www.linkedin.com/company/verofax-limited/
About Verofax
Verofax is the leader in product digitization, providing innovative solutions that empower brands, retailers, and governments to secure supply chains and transform customer engagement. Utilizing latest technologies such as blockchain and AI, Verofax offers a comprehensive suite of tools, immersive omni-channel consumer engagement and compliance validation. By leveraging the Verofax solution, brands can ensure supply chains are compliant and sustainable and customers are engaged through every step of the product lifecycle. Please visit www.verofax.com.
About MBRIF Accelerator
The MBRIF Innovation Accelerator program focuses on innovation and cooperation and provides world-class services and training to founders to accelerate their business, raise capabilities and expertise, boost standards, and create added value. Its objectives are in line with the Dubai National Innovation Strategy as it aims to help innovative companies realize their potential and contribute to shaping the future of the national economy. Visit www.mbrif.ae.
For additional information, visit:
CB Insights: https://www.cbinsights.com/company/verofax
CrunchBase: https://www.crunchbase.com/organization/dhonor
StartUp Buffer: https://startupbuffer.com/startup/verofax-limited
Accelerating Web3 Adoption: Roland Berger and the Inacta Group Cooperate on Digital Assets and Web3 Venture Building for their Clients
Inacta Group, a leading Swiss IT solution provider with a venture building arm focused on blockchain enabled business models, and Roland Berger, a global strategy consulting firm, have disclosed that they are working on joint Web3 projects and intend to closely cooperate on many more in the future. One of the projects is for the German utility giant E.On which was announced in December 2022, another is for a pharma- and consumer goods giant based in Switzerland.
Inacta is headquartered in Zug, Switzerland, in the heart of Crypto Valley, and has delivered many Digital Assets and Web3 projects for clients like AXA, InCore Bank, Swiss Post, Raiffeisen Bank and Visa. Additionally, Inacta has been one of the initiators of the fastest growing blockchain ecosystem in the world, MENA focused Crypto Oasis.
Crypto Oasis has been the facilitator for this deal by connecting the stakeholders through their expert knowledge of the global Web3 network. “Many such deals, connecting global players, have been orchestrated by Crypto Oasis as we build on the strong infrastructure of the Middle East and the talent and capital migration into the region,” says Saqr Ereiqat, Co-Founder of Crypto Oasis.
Roland Berger has been at the forefront of advising blue-chip companies, investment funds and governments on Digital Assets, Web3 and Metaverse strategies and use cases.
“Inacta is a reputable company in the Web3 ecosystem. With this new partnership, we extend our offering further towards the implementation of Web3 ventures, while still maintaining the necessary objectivity to be protocol- and vendor agnostic, a key value for us when advising clients,” says Pierre Samaties, Partner and Global Head of Roland Berger’s Digital Asset, Web3 and Metaverse practice.
“Roland Berger is a thought leader among the top strategy consulting firms in the Digital Assets and Web3 space. With our strategic partnership, we can combine strong strategy consulting skills with Web3 implementation power for our clients. We leverage this experience out of Crypto Valley and the growth in Crypto Oasis to bring more Web3 and Digital Asset solutions into the corporate world. For us, it is not about trading of crypto currencies, it is about building infrastructure for Tokenisation, Provenance and Digital Identities in several areas,” says Ralf Glabischnig, Managing Partner and founder of Inacta.
ABOUT ROLAND BERGER
Roland Berger is the only management consultancy of European heritage with a strong international footprint. As an independent firm, solely owned by its Partners, Roland Berger operates 51 offices in all major markets. Their 3,000 employees offer a unique combination of an analytical approach and an empathic attitude. Driven by the values of entrepreneurship, excellence and empathy, Roland Berger is convinced that the world needs a new sustainable paradigm that takes the entire value cycle into account. Working in cross-competence teams across all relevant industries and business functions, Roland Berger provides the best expertise worldwide to meet the profound challenges of today and tomorrow.
ABOUT INACTA GROUP
Digital, decentralised, innovative – Inacta AG, founded in 2009 and based in Zug, is an independent Swiss IT company. More than 100 experienced digitalisation experts support organizations from the insurance, banking, real estate, and healthcare industries. Also part of the Inacta Group are several international ventures with offices in Switzerland and the UAE. Inacta supports established companies as well as start-ups with consulting, project management, and software development. As a leading technology provider for many years, Inacta uses state-of-the-art methods and leads numerous blockchain projects worldwide.
ABOUT CRYPTO OASIS
Crypto Oasis is a MENA focused Blockchain Ecosystem headquartered in Dubai, UAE. The core elements needed for its growth are Talent, Capital, and Infrastructure. The Ecosystems stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers and Government Entities & Associations. Crypto Oasis’ vision is to be one of the leading Blockchain Ecosystems in the world. Today it is the fastest growing Blockchain Ecosystem in the world, with more than 1,650+ organisations identified in the UAE alone with more than 8,300+ individuals working in the space.
RELATED LINKS:
Roland Berger – www.rolandberger.com/en/
Inacta Group – https://inacta.ch/en
Crypto Oasis – https://cryptooasis.ae
Inacta Press Office
Maurus Schupfer
Communications Manager
+41 41 725 08 54
maurus.schuepfer@inacta.ch
NeutraDC, NAVER Cloud, and Cisco Collaborate to Boost Cloud Adoption, Drive Digital Transformation in Indonesia
NeutraDC, a brand of PT Telkom Data Ekosistem (TDE), entered a Memorandum of Understanding (MOU) with NAVER Cloud and Cisco to accelerate the digital transformation of businesses in Indonesia by providing them with advanced cloud solutions and services.
Businesses in Indonesia will benefit from the collaboration as NAVER Cloud and Cisco provide reliable, secure, and efficient cloud-based services. The MOU enables all parties to leverage TDE’s local knowledge and data centre infrastructure to deliver reliable and secure cloud services to businesses in Indonesia.
NeutraDC offers a pathway for international companies to access Indonesia’s eyeballs and digital economy. A hub for TDE’s data centre resources in Indonesia, NeutraDC offers a robust digital ecosystem where any party, including hyperscale players supported by Telkom Indonesia, can tap integrated digital infrastructure with comprehensive network connectivity.
Spokesperson Quotations
NeutraDC
“We are happy to have NAVER Cloud & Cisco to support our flagship hyperscale data centre in Cikarang, Indonesia. The MOU will promote collaboration and knowledge-sharing between the three companies, which will result in developing talent and skills in cloud computing in Indonesia,” remarked Andreuw Th.A.F, Chief Executive Officer, Telkom Data Ekosistem (NeutraDC). “The benefit to local companies in Indonesia is enhanced agility, scalability, and cost efficiency to better compete in the digital economy.”
NAVER Cloud
“NAVER Cloud is proud to bring our knowledge and experience in cloud technology to the Indonesian market in collaboration with PT Telkom and Cisco. This partnership will help to drive innovation and deliver the benefits of cloud technology to businesses and consumers in Indonesia,” said Weongi Park, CEO of APAC Development at NAVER Cloud.
Cisco
“At Cisco, partnerships are at the heart of everything that we do, which is why we are excited to be working with NAVER Cloud and PT Telkom on this innovative venture. With their unparalleled industry expertise and our cutting-edge technology, we believe we can offer a premier telco cloud solution to Indonesia, driving economic growth to new levels,” said Sanjay.
Left to right:
- Michael Hu, Chief Commercial Officer, Telkom Data Ekosistem (NeutraDC)
- Meygin Agustina, Director, Service Provider, Indonesia, Cisco
- Abdi Negara Nurdin, Independent Commissioner, Telkom Indonesia
- Sanjay Kaul, President, Service Provider, Asia Pacific and Japan, Cisco
- Bogi Witjaksono, Director of Wholesale & International Service, Telkom Indonesia
- Weongi Park, CEO of APAC Development at NAVER Cloud
- Andreuw Th.A.F, Chief Executive Officer, Telkom Data Ekosistem (NeutraDC)
- Dave West, President, Asia Pacific and Japan and Greater China, Cisco
- Rizal Mallarangeng, Commissioner, Telkom Indonesia
About NeutraDC
NeutraDC, a brand of PT Telkom Data Ekosistem (direct subsidiary of Telkom Indonesia) offers modular, scalable and carrier neutral data centres which are backed by the Group’s telco infrastructure including network connectivity and submarine cables for seamless connectivity from Indonesia to the rest of the world. After our data centre consolidation exercise in mid-2023, NeutraDC’s resources will include 28 data centres consisting of 5 global data centres and 3 Enterprise Data Centres (Sentul, Serpong, and Surabaya) with Tier 3 and 4 classifications, 1 Hyperscale Data Centre (Cikarang) that has global standards certified by Uptime Tier III & Tier IV for global players, along with 19 neuCentrIX located in various cities in Indonesia as well as global data centres in Singapore. We offer a reliable gateway and direct access to one of Southeast Asia’s largest and fastest-growing digital economies, helping businesses to tap into Indonesia’s 171 million digital users and enterprises. Visit neutradc.com for more information.
About NAVER Cloud
For over a decade, NAVER Cloud has been a leading cloud service provider in Korea, offering IT development and cloud services. In 2017, the NAVER Cloud Platform was launched, providing a public cloud service open to everyone. Currently, NAVER Cloud offers over 220 products, including IaaS, SaaS, PaaS, AIaaS, and CaaS, which cover application, data, runtime, and API tools, as well as middleware, platforms, operating systems, virtualization, servers, storage, network services, and hyperscale AI services. NAVER Cloud has expanded its offerings to cater to the public, financial, and enterprise cloud markets, and in August 2020, it launched Neurocloud as its CaaS. This hybrid cloud offers private data centre racks for enterprises, providing higher levels of security and efficient management. https://micro.ncloud.com/sea/en/
About Cisco
Cisco (Nasdaq: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco.
Copyright © 2023 Cisco and/or its affiliates. All rights reserved. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. To view a list of Cisco trademarks, go to: www.cisco.com/go/trademarks. Third-party trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information.
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