MX Hub Dubai Announces Launch of its Metaverse Incubator

Since launching 2 months ago, MX Hub has achieved international recognition as a contributor to Dubai Metaverse strategy of global leadership. Located under the roof of the Dubai Ministry of Economy & Tourism, MX Hub has prepared the first Emtech Rating MX100, aimed at getting top rated companies to participate in the MX Sharing Ecosystem. MX Hub members get a revolutionary framework is designed to help startups accelerate the presence via the Emtech Rating System. The MX Hub Ecosystem provides a virtual office, registration / licensing at a fraction of the cost of setting up your own company in Dubai.

The MX Program Integration is based on a framework of transparency, trust and reporting that includes: Due diligence, inclusion in Rating of top 100 Emerging tech companies, strategic sessions with globally renowned experts, like Brett King, aimed at improving startups’ strategy, PR, sales Technical integration with synergetic service provider, to facilitate sales and commercial rollout and participation and exposure across MX100 events.

Cost of MX Hub membership ranges from $2.5k-$5k monthly.

Compare: Instead of $120k + annual costs of running a business in UAE, you’d get representative office, sales representatives and business deals, several times more cost-efficient. MxHub’s unique differentiator is geared toward supporting Top Startups the opportunity to drive valuation multiple through targeted execution and participation across the growing global Metaverse Ecosystem.

About MX Hub by Phygital:

A Custom made, first of a kind, Phygital platform, created to help startups and hi-tech companies to find investments, customers and strategic partners, help’s investors filter opportunities and make the right investment. Our creative unique physical space is supported by the Virtual twin version with multifunctional options, VIP meeting spaces and chat rooms, to meet investors/clients.

What every member of MX hub gets:
– Pilot projects with selected MX Hub residents. The result: proven technologies of MX Hub residents, offered to MENA companies for export purposes.
– An increase in the valuation of startups via the scaling mechanism of MX – Metabook Sharing economy.
– Licensing synergetic technical tools of MX Hub residents, to reach sustainable competitive advantage, and leadership position.
– Integrated Public, Government and Investor Relations.

“We start with MX Hub event, a sort of “Oscar for Emerging tech startups”, which is supposed to aggregate the global interest for MX startups,” stated Edward Musinski Managing Director of MX Hub. “MX Hub Members are contributing to Sharing economy of innovators, by paying membership and sharing profit with MX Hub ecosystem,”

Inquires: mx@mxhub.co

Source: Plato Data Intelligence: Platodata.ai

JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group make new strategic investment in operational risk management firm Acin

  • Acin closes Series B with consortium of industry-leading banks

Acin, the global operational risk control data network, today announced it has closed $24 million in Series B funding from a strategic consortium of industry-leading banks, comprised of JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group.

The funding round was also supported by existing investors Notion Capital, Talis Capital and Fitch Ventures, the equity investment arm of Fitch Group.

This funding will enable further strategic product development in partnership with investing banks and existing clients. Additionally, it will enable Acin to expand and accelerate into new areas across the financial services industry.

Acin’s platform empowers financial institutions to digitise their operational and non-financial risk analysis, using ground breaking data analytic capabilities. Acin has established a network that calibrates data and facilitates the sharing of best practice between firms, underpinned by a standardised library of risks and controls. The results revolutionise the understanding and management of firms’ operational and non-financial risk positions accelerating their journey to become safer and more efficient. Minimising operational risk capital is a shared industry ambition and Acin’s solution is a key building block.

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/7475J_1-2022-12-14.pdf

About Acin
Founded in 2018, the Acin platform is the defining global operational risk network for connecting and quantifying data from the world’s largest financial institutions. Acin’s data analytic capabilities reveal gaps, duplication, and granular areas of weakness, enabling faster remediation at lower costs for completeness and optimised operations. This insight gives member firms exponentially deeper insights across their risk management landscape and against peer best practices.

Acin is making the financial services sector safer, delivering prioritisation and acceleration of value to transformation and simplification programmes, plus ongoing dynamic risk management value across all three lines of defence, enabling significant operational cost savings. Combined with substantial contributions to loss/penalty avoidance and the ability to evidence industry comparison and progress towards stated goals, reinvigorated discussions are now possible at both board and regulator level around residual risk and capital allocation.

Acin has achieved global industry recognition, including Risk.net’s OpRisk Innovation of the Year 2022 (second year in a row), Best ESG Risk Data Provider 2022, FS Tech Awards Risk Management Software of the Year 2021, and was named one of the most innovative regtech companies in 2019 and 2020.  Visit www.acin.com to learn more.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Legend Capital Portfolio Company Bespin Global Completes USD100m Series D Financing

Legend Capital Portfolio Company Bespin Global, a Korea-headquartered cloud services company, has recently completed its Series D round financing of USD100 million, which will be used mostly for acquisitions.

Concurrent with the investment, the investor, e& Enterprise, a leading digital services provider in UAE (formerly Etisalat Digital), and Bespin Global will form a joint venture that will serve customers in the Middle East, North Africa and Pakistan.

John HanJoo Lee, CEO and co-founder of Bespin Global said, “By combining forces with e& enterprise in the METAP region, we are bringing much needed cloud managed services to the region where cloud adoption is about to explode. e& enterprise has deep customer relationships and the trust of its customers and Bespin Global has the deep cloud management capabilities. Together, we can accelerate cloud adoption in the region. Additionally, we welcome e& as our shareholder. It’s a clear validation of our track record as a trusted cloud managed services provider on the global stage.”

Bespin Global helps its customers in their digital transformation by providing cloud migration, cloud management and related SaaS offerings. It is the first multi-cloud managed service provider in East Asia with partnerships with Amazon Web Services, Microsoft Azure, Google Cloud, Aliyun, Tencent Cloud, and Naver Cloud.

The company has offices in 9 countries including Korea, China, Japan, Singapore, Vietnam, Indonesia, the US, UAE, and Saudi Arabia. It has over 1,700 customers which range from large enterprises to fast growing startups.

Legend Capital led Bespin Global’s Series A financing in 2017, and continued to invest in the company’s Series B financing in 2019. As an early investor, Legend Capital has provided support and help to Bespin Global in global cooperation, enterprise management and subsequent financing, to promote Bespin Global’s development.

In 2020, Legend Capital introduced Serverworks, a leading AWS Cloud integrator in Japan, to Bespin Global. The two companies established a joint venture in September 2021, entering the Japanese market officially.

John HanJoo Lee, CEO and co-founder of Bespin Global said, “It was Legend Capital that first introduced us to the UAE investors that led to the successful funding round with e&. Many venture capital firms talk about adding value, but only a few actually do. Legend Capital continues to add value beyond just capital. We are so lucky to have such a great partner as our investor.”

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).

International Cricketer Shikhar Dhawan announces $75M Global Investment Sports Tech Fund

Da One Global Ventures (DOGV) will be a multi-stage VC fund incorporated in Abu Dhabi Global Market

On day one of the prestigious Abu Dhabi Finance Week (ADFW), leading international cricketer and entrepreneur Shikhar Dhawan announced that he would be launching a $75 million Global Investment Sports Tech Fund, consisting of a Greenshoe option of $25 million. The proposition is a multi-stage fund, Da One Global Ventures (DOGV), incorporated in Abu Dhabi Global Market (ADGM) and focusing on innovation across the Sports spectrum. ADGM is home to a growing number of international institutions, its vibrant business ecosystem underpinned by a robust regulatory framework.

International Cricketer Shikhar Dhawan
International Cricketer Shikhar Dhawan announced $75 Million Global Investment Sports Tech Fund; Da One Global Ventures – a multi-stage fund being incorporated at Abu Dhabi Global Market (ADGM)

This is the first VC fund organized by an Asian sportsperson and first by an Indian celebrity. The announcement by Shikhar Dhawan, his partners, and the DOGV team, came on 14th November during ADFW at the LP-GP Summit, an invite-only event hosted by 256 Network (a private organization for LPs/GPs worldwide). Held at ADGM, the international financial event draws an audience of global financial market leaders from a wide array of backgrounds who gather to address strategic macroeconomic and financial topics that will shape global, regional and industry perspectives and themes for the years to come.

Shikhar Dhawan is one of the most reputed names in the cricket world, and he has established a globally enriched and seasoned founding team that will lead the fund’s investment thesis across the spectrum of Sports to include Technology, eSports, Gaming, Web3 & more. The deployment of funds will be global in nature, as is the LP community. The fund will also have other prominent sporting personalities from across the Globe representing multiple sports as LP Ambassadors. Through this unique network of GP’s and LP’s (General Partners, Limited Partners), Da One Global Ventures (DOGV) will provide unprecedented access to an ecosystem worldwide which will accelerate and mobilise new propositions with unique positioning.

“I am elated to start a new inning and embark on this journey in the world of venture capital. All this would not have been possible without the support of my commercial partners and the founding team’s commitment to this fund, in readiness for this week’s announcement and targeted deployment in Q1 2023-24. Da One Global Ventures (DOGV) will go beyond traditional investing models and will provide domain knowledge unprecedented access to sporting ecosystem across the globe. We are making a humble beginning but aim to scale this to greater heights and aspire to set new benchmarks for leading in Venture Capital, Sports and Technology. I have much gratitude to sports & I look forward to the contribution of this fund to the economic strength and growth of Sports,” said Shikhar.

Shikhar is known as an Indian cricketer, a left-handed opening batsman and occasional captain of the India national cricket team, and he captains Punjab Kings in the Indian Premier League and Delhi in first-class cricket. For his notable contributions to the Indian Men’s National Cricket Team, Shikhar Dhawan was awarded the prestigious Arjuna Award by President in 2021.

This year has been spectacular year for SportsTech with investments to the tune of $12 billion already. That is more than the total of the preceding three years combined and covers multiple segments, illustrating the rapid growth in this dynamic industry.

Da One Global Ventures (DOGV) is in active discussions with various relevant stakeholders across the globe and further developments will be announced in due course. Da One Global Ventures (DOGV) will also incubate a SportsTech Accelerator & eSports Venture studio as distinguishing verticals within its platform.

For further details, get in touch with Mr. Amitesh Shah, email: ceo@daoneglobal.vchttps://daoneglobal.vc/.

Society Pass (Nasdaq: SOPA) to Present at the #Adapt International Convention 2022 on 13-14 December 2022

Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) leading data-driven loyalty, fintech and e-commerce ecosystem, today announces that Company Founder, Chairman, and CEO Dennis Nguyen has been invited to present at the #Adapt International Convention 2022, to be virtually held on Tuesday, 13 December 2022 and Wednesday, 14 December 2022. The title of the conference is “A New Age: Unraveling the Future of Metaverse, AI and Digital Assets”.

In Keynote #6 address in Room 2, Mr. Nguyen will present “Digital Assets In The Web3 Economy. Society Points Are Digital Assets” at 2:30 pm on Tuesday, 13 December 2022.

If you would like to listen to the Company’s presentation, please click on the following link to register for the conference.

Event: #Adapt International Convention 2022 https://adaptconvention.com/
Date: Tuesday, 13 December 2022
Location: Virtual Conference
https://event.webinarjam.com/register/9/yw171i9?_se=ZGVubmlzQHRoZXNvY2lldHlwYXNzLmNvbQ%3D%3D&utm_campaign=Adapt_2022_Login_instructions-_Participants&utm_medium=email&utm_source=sendinblue

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 check out:
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

Led by Legend Capital, GS Biotech Completes Nearly CNY100 million Pre-A Round Financing

Recently, Zhongke Guosheng (Hangzhou) Technology Co., Ltd (hereinafter referred to as GS Biotech) officially announced the completion of its nearly CNY100 million pre-A round financing, led by Legend Capital. The proceeds will be mainly used for the capacity expansion of core pipeline products 5-hydroxymethylfurfural (HMF), 2,5-furandicarboxylic acid (FDCA) and 2,5-tetrahydrofuran dimethanol (THFDM), and the continuous development of downstream derivatives.

Founded in 2021 with the vision of “Biomass Change Lives”, GS Biotech is a bio-based material and R&D company dedicated to building a bio-based material industry chain. The members of its founding team graduated from the Dalian Institute of Chemical Physics, Chinese Academy of Sciences, and have nearly 20 years of research foundation and industrialization experience in the fields of biomass catalytic conversion and furan-based material design and development. At present, the R&D team building has also been completed from biomass, derivatives to polymers, which ensures the cutting-edge of the company’s product development and the availability of end products.

According to Dr. John Zhang, CEO of GS Biotech, the company has taken the development model of promoting the “two-wheel drive” of the dual track as an important strategic direction. On the one hand, the company has completely solved the problems of HMF cost and raw material sources; its original HMF continuous production process, which completed the verification of multi-dimensional cost reduction measures, has greatly reduced the production cost and effectively improved the efficiency, and it is expected that the production cost of HMF will be controlled within RMB10,000 per ton in the future three years from the extraction of non-grain raw material sources to the iterative path of the production process and to the planning of expanding production capacity. Meanwhile, the company has also reserved more than 20 kinds of high-value-added monomers and is simultaneously promoting the verification of the application of each monomer in the terminal market. Moreover, GS Biotech established a joint venture, Xinshengtai Materials, with an AI-powered drug R&D unicorn company XtalPi Inc to focus on using AI technology to accelerate the reverse design of derivatives and improve the development efficiency of downstream derivatives to further accelerate its high-efficiency and accurate market development process.

On the other hand, the company has also made significant progress in the design, R&D and industrialization of degradable new materials. The new biodegradable plastic PEOX, another important pipeline of the company, has completed the 150L pilot scale experiment and obtained market terminal verification. The performance indicators of PEOX can be compared with PGA and the price of the terminal product will be approximately RMB10,000/ton after the large-scale production. With the special performance of the product and the support of policies, many leading enterprises in the industry are negotiating with the company to sign an underwriting agreement to apply PEOX in the field of disposable packagings such as agricultural mulch, plastic bags, straws, and lunch boxes.

Legend Capital said: “Under the background of China’s strategy in carbon peaking and carbon neutrality and the pursuit of sustainable energy development, petroleum-based chemical materials will gradually be replaced by bio-based materials, which are produced from sustainable resources. HMF is an important bio-based platform compound with great potential for downstream derivatives. GS Biotech has pioneered the HMF continuous production process globally and realized the large-scale and low-cost production of HMF. It has opened the entire industry chain from upstream core monomers to terminal applications and innovatively introduced AI and high-throughput machine synthesis technology into the development of downstream derivative products. The core team of GS Biotech graduated from the Dalian Institute of Chemical Physics of the Chinese Academy of Sciences. With nearly 20 years of research foundation and industrialization experience in the field of biomass catalytic conversion, GS Biotech has shown strong capabilities in continuous R&D, production management, and resource integration. Legend Capital has long focused on technology investments linked to carbon peaking and carbon neutrality, and we look forward to working with GS Biotech to promote technological change in the field of bio-based materials.”

As an interdisciplinary subject of information science, life science and material science, synthetic biology and bio-based materials have always been the direction that Legend Capital has paid close attention to in the field of carbon-neutral technology investment. Legend Capital’s investments in the carbon-neutral field focus on energy decarbonization, vehicle electrification/intelligence, synthetic biology, etc. Energy decarbonization includes photovoltaic, wind power, and smart grid; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others; in the field of synthetic biology and bio-based materials, Legend Capital has invested in many outstanding companies such as Giant Biogene (02367.HK), GS Biotech, Huili Biotech, and Tidetron Bioworks Technology.

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).

Society Pass / NusaTrip Expands Flight Routes and Fares Offering through Connection with Regional Low-Cost Carriers: JetStar Airways, VietJet Air, NokAir, Thai Smile Air, and Thai Lion Air

NusaTrip, the Indonesia-based online travel agent (OTA) and travel platform of Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) leading data-driven loyalty, fintech and e-commerce ecosystem, today announces the expansion of NusaTrip’s +500 global airline partners network by adding JetStar Airways, VietJet Air, NokAir, Thai Smile Air, and Thai Lion Air. With the addition of these low-cost carriers, users can enjoy more flight content, travel options, competitive pricing, and convenience in booking multiple trips / airlines through NusaTrip’s consolidator and distribution technology platform, NusaXchange.

NusaXchange connects worldwide flight content through streamlined integration with low-cost and full-service airlines from multiple points of sale and enables its global distribution at ease. NusaTrip’s flight contents include a wide range of domestic and international inbound-outbound routes.

NusaTrip’s CEO, Johanes (Joe) Chang underlines that the company continuously improves the richness of flight content in its NusaXchange platform, to cater to a broader range audience that increasingly demands a more varied and personalised experience. “Direct connectivity with more airline partners means more inventory to offer, more reliable and faster responses, as well as more competitive pricing for our customers and distribution partners”.

Low-cost carriers are gaining momentum during the recovery period of the COVID-19 pandemic. As elaborated in the Low Cost Airlines Market By Purpose, By Destination, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2016-2030, the value of the global low-cost airlines market is projected to grow from USD 155 billion in 2016 to USD 440 billion by 2030, growing at a CAGR of 10.4% from 2022 to 2030.

NusaTrip’s newest airline partners of choice are the leading low-cost carriers in their respective regions. Carried more than 250 million passengers worldwide since 2004, JetStar serves more than 5,000 flights to over 85 destinations every week – across Australia, New Zealand, Asia, and the Pacific. VietJet, together with its affiliate, ThaiVietJet, operates a total of 197 domestic routes in Vietnam and Thailand, as well as international routes to Singapore, Malaysia, Myanmar, Indonesia, Cambodia, Taiwan, South Korea, China, Japan, and India. NokAir, a subsidiary of Thai Airways International, is a SkyTrax-certified 3-star low-cost airline and offers flights to 25 destinations throughout Thailand and Myanmar.

NusaTrip offers ease of travel options from arranging multiple airlines / routes to serving personalised flight preferences. NusaTrip’s one-stop booking platform allows users of different travel styles to prepare their itineraries easily. Customers who book last-minute air tickets and hotel rooms benefit from a wide range of airline selections, schedule options, and trip destinations. Travel connoisseurs may also take advantage of convenience in pre-flight arrangements, including selecting a preferred seat, meals, or extra baggage.

As the travel business vertical, NusaTrip’s industry leadership and initiatives simultaneously strengthens the Society Pass ecosystem and broaden the company’s network in the fast-growing Southeast Asia markets.

About JetStar Airways

JetStar serves more than 5,000 flights to over than 85 destinations every week – across Australia, New Zealand, Asia and the Pacific. Since launched in Australia in 2004, the airline has carried 250 million+ passengers worldwide.

The airline operates an extensive domestic network as well as regional and international services from its main base at Melbourne Airport, using a mixed fleet of the Airbus A320 family and the Boeing 787 Dreamliner. For more information, please check out: https://www.jetstar.com/id/en/about-us.

About VietJet Air

Vietjet Air’s fleet consists of nearly 100 new-generation A320, A321 and A330 aircraft, with an average fleet age of 2 to 3 years, making it one of the airlines with the newest fleet in the region and the world. Together with its affiliate, Thai Vietjet, the airlines operate more than 150 domestic routes in Vietnam and Thailand, as well as international routes to India, Japan, South Korea, China, Singapore, Malaysia, Indonesia, Taiwan and Kazakhstan, etc.

As a new-age carrier, Vietjet has not only revolutionized the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations and performance, Vietjet offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers’ demands. For more information, please check out: https://www.vietjetair.com/en.

About Nok Air

Nok Air is a new low-cost airline registered under Nok Airlines Public Company Limited. It is a joint venture between public and private investors. Nok is the Thai language for ‘Bird’. Nok Air offers the largest number of domestic routes within Thailand along with expanding Asian destinations. For more information, please check out: https://nokair.com.

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 quality customer-centric support team-as-a-service. NusaXchange platform is the travel technology built to consolidate worldwide flight content through streamlined integration with low-cost and full-service airlines from multiple points of sale and enables its global distribution at ease.

NusaTrip is a member of Society Pass Incorporated (Nasdaq: SOPA) ecosystem, with headquarters in Jakarta and representative offices in Singapore, Thailand, Vietnam, and the Philippines. For more information, please check out: 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, Hanoi, 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 the 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 check out:
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:
Rosa Milyarna – NusaTrip
rosa@NusaTrip.com

PRecious Communications
sopa@preciouscomms.com

Argus Research: Society Pass (Nasdaq: SOPA) Building a Loyalty-Driven E-Commerce Platform in Southeast Asia

Argus Research Co (Argus) issues Equity Research Report on Society Pass Incorporated (SoPa) (Nasdaq: SOPA), SEA’s leading data-driven loyalty, fintech and e-commerce ecosystem.

Click here to view the full Argus Research Co Equity Research Report. https://tinyurl.com/ycxymnxz

Summary Points:

  • Compelling fair value valuation. Applying a 4 times revenue multiple to its 2023E revenue run-rate forecast of $60 mn, adjusting for $23 million in net cash and estimating share count of 34 mn at 2023E, Argus arrives at a fair value estimate for SOPA of $7.50 per share.
  • Breakout year on year revenue growth in 3Q 2022. 3Q 2022 revenues were $2.1 mn, up from $83,000 in 3Q 2021, reflecting a rapidly accelerating platform rollout.
  • Accelerating 2022 and 2023 revenue projections. Argus forecasts 2022 revenues of $7 mn and 2023 revenue of $40 mn, driven by on-line travel booking and digital marketing. Argus forecasts Society Points to accelerate revenue growth with a revenue run rate of $60 mn by 2023E.
  • Healthy balance sheet. SoPa had cash of $23.0 mn and shareholders’ equity of $27.6 mn.
  • Significant onboarding of consumers and merchants. SoPa has amassed more than 3.3 million registered consumers and over 200,000 registered merchants/brands. Argus sees SoPa building critical mass in its user base to support it loyalty program.
  • Material revenue generating acquisitions. In 3Q 2022, Society Pass closed 4 acquisitions of consumer-focused businesses, highlighted by Singapore-based Gorilla Networks, a blockchain and web3 technology-enabled mobile telecommunications operator; Thoughtful Media, a Bangkok-based, social media platform; Philippines-based Mangan Group, which offers restaurant delivery services; and Nusa Trip, an Indonesia-based online travel-booking site.
  • Society Points loyalty platform rollout. SoPa integrates these diverse businesses by attracting and retaining customers through an open-loop loyalty program, Society Points, which is expected to launch in 1Q 2023. SoPa announced a partnership with CoinSmart to add crypto payments capabilities and integration with Stripe’s financial payment infrastructure, which simplifies payment flow, accepts payments in multiple currencies, and features anti-fraud technology.
  • Travel Vertical. In August 2022, SoPa acquired NusaTrip, the 1st IATA-accredited Indonesian online travel agency. Leveraging its first-mover advantage among Indonesian corporate and retail customers, NusaTrip has engaged with +80 million unique visitors, and onboarded more than 1.2 million registered users, 500 airlines, and 200,000 hotels globally.
  • Digital Marketing Vertical. In July 2022, SoPa acquired Thailand-based Thoughtful Media, a social commerce-focused Multi-Platform Network, which recorded revenues of $5.8 million in 2021 and uploaded over 675,000 videos with over 80 billion video views since 2010. The network of 263 YouTube channels has onboarded over 85 million subscribers. Argus sees digital advertising enhancing Society Points and SoPa ecosystem via data-driven marketing campaigns.
  • Food and Beverage Vertical. In July 2022, SoPa acquired Mangan, a Philippines local restaurant delivery service. Mangan has generated +100,000 app downloads and onboarded +500,000 registered consumers, +80,000 social media followers, and +1,200 registered restaurants.
  • Telecommunications Vertical. In June 2022, SoPa acquired Singapore-based Gorilla Networks and will incorporate Gorilla’s blockchain/web3 technology onto its ecosystem. Consumers can convert unused mobile data into digital assets that can be redeemed for eVouchers or other VAS.

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, Hanoi, 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 check out:
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

Dubai UAE’s MxHub Announces launch of MX100 Investor Event

MxHub, Dubai’s newest Innovation Center and Incubator has announced the launch of MX100, a multimedia metaverse event scheduled for December 20, 2022 next to the Burj Khalifa in Dubai UAE. The event is geared to deliver the latest in innovative startups from throughout the region amidst a backdrop of the latest metaverse centric technologies.

“In our effort to bring the latest technological breakthroughs of the Metaverse to the UAE, we are planning this showcase event via a multimedia delivery that we believe is transforming the way events are produced, delivered and engaged with,” stated Edward Musinski, Executive Director of MxHub. “Our growing ecosystem drives both investor awareness and a showcasing medium for best of class opportunities through the sector that encompasses fintech, blockchain, healthtech & web3.”

Invited Investors include: Andreeson Horowitz, Sequoia, TigerGlobal and SALD Investments

The event which is being produced by MxHub is supported by the following MxHub companies.

Blockbytes: https://bloxbytes.com/
MetaVibes: https://metavibes.ai/
Citizen of Metaland: https://www.citizenofmetaland.com/
Ducatus: http://www.ducatus.com/
VisionTech: https://www.visiontechme.com/
Bimar: https://www.bimar.pro/main-en
Arcona: https://www.arcona.space/
Vatom: https://www.vatom.com/
Aimedis: http://www.aimedis.io/
Panvora: http://www.panvora.com/
MetaAlliance: https://www.metaalliance.biz/
Huma: https://huma.com
Mobio: https://mobiointeractive.com
Shaikhtech: https://www.shaikhtech.com/
MatterFi: https://matterfi.com

Event Video: www.youtube.com/watch?v=DbdQkQeT9xg
Event URL: https://mx100.vip/

About MxHub

MxHub is a UAE based Innovation Ecosystem and is part of Phygital Holdings a UAE Digital Holdings Fund. The company hosts multiple global companies by providing corporate infrastructure support to its growing ecosystem of innovative startups. MxHub is a one stop startup incubator for startups located outside of Dubai and provides a full range of support services to companies looking to embed themselves in the local UAE market. For more information, visit https://mxhub.co.

Society Pass Inc Integrates with Stripe Inc’s Payments Platform

  • Society Pass Inc (Nasdaq: SOPA) integrates with Stripe Inc (“Stripe”) payments platform to power transaction settlement services for merchants and consumers on SoPa’s ecosystem
  • Leveraging the cutting-edge technological solutions from Stripe, SoPa simplifies payment flows and provides superior shopping experience to consumers.

Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s leading data-driven loyalty, fintech and e-commerce ecosystem, today announces the integration of Stripe’s financial infrastructure solutions onto the SoPa platform to power transaction settlement services for merchants and customers on SoPa’s ecosystem.

Leveraging Stripe’s cutting-edge technology solutions, Society Pass expands the product and geographical reach of its ecosystem, simplifies payment flows, and accepts payments at scale in multiple currencies. In addition, SoPa leverages Stripe’s anti-fraud technology, Stripe Radar, to detect and block fraud using machine learning. Merchants on SoPa’s ecosystem utilise Stripe’s payment infrastructure to accept credit and debit cards payments from customers, enable their customers to checkout in a simple way, and at the same time provide a superior shopping experience to consumers.

Rokas Sidlauskas, Chief Marketing Officer of Society Pass, comments, “We are thrilled to announce this integration with Stripe which provides diverse payment options to our consumers whilst streamlining the process for merchants to manage their finances and get paid faster. Since our incorporation, Society Pass has redefined the e-commerce experience for millions of registered consumers and hundreds of thousands of registered merchants in SEA. By offering convenience, flexibility, and control on both sides of the retail transaction, SoPa paves a win-win path for our merchants and consumers alike. Partnering with Stripe is an organic path to accelerate this goal”.

As a global financial infrastructure platform, Stripe makes it easy for companies to launch, run and scale their business from day one. Stripe offers a broad set of software tools, including services like built-in-machine-learning powered fraud protection, advanced analytics and infrastructure that makes it easy for businesses of all sizes to scale locally and internationally, while reducing the time and resources spent on payments so they can focus on their core business.

Society Pass’ first-in-class ecosystem transforms the entire retail value chain towards a more digital future in SEA. Looking ahead, SoPa will continue to simplify the use and access to online shopping, leveraging cutting edge technologies and capabilities to tailor more intelligent, individualized, and contextual experiences for the next generation consumers. In addition, SoPa is committed to make continuous efforts in reinforcing and diversifying its ecosystem by means of strategic acquisitions of market-leading companies and partnerships with visionary entrepreneurs in six distinct B2C e-commerce verticals: loyalty, lifestyle, food & beverage delivery, telecoms, digital marketing, and travel.

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, Hanoi, 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 check out:
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