Category: PE, VC & Alternatives

Society Pass (Nasdaq: SOPA)/ NusaTrip Collaborates with Periksa.id to Promote Indonesia’s Wellness, Health, and Medical Tourism Recovery Strategy

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 an official partnership with Periksa.id, a Jakarta-based leading health-tech solutions company, to enable and introduce flight search engine services in over 200 hospitals and clinics across 13 provinces in Indonesia. Periksa’s network covers over 200,000 doctors, medical workers, and over 1.5 million daily patients. The partnership strengthens NusaTrip’s commitment to developing more vibrant travel services for all consumers, business partners, and stakeholders in Indonesia and throughout SEA.

Wellness, Health, and Medical Tourism have been one of the Ministry of Tourism and Creative Economy’s strategies for industry revival since the pandemic of COVID-19 hits. According to Future Market Insights Global and Consulting Pvt. Ltd., the global Medical Tourism market is expected to be valued at US$ 5.2 Billion in 2022 and is projected to grow at a CAGR of 30.5% between 2022 and 2032, totaling around US$ 75 Billion by 2032.

“We believe that our technology and services can serve a broader range of travel demands and purposes than just leisure. Our collaborations pave the way and build a roadmap in contributing to Indonesia’s wellness, health, and medical tourism industry,” says Johanes (Joe) Chang, NusaTrip’s CEO.

Joe further highlights NusaTrip’s mission to become a world-class OTA and the most reliable partner that offers a wide range of travel and tourism-related products, services, and experiences to our customers and business partners globally. As the travel industry recovers, NusaTrip continues working within the larger digital ecosystem of Society Pass[1] to offer richer travel products and services for our consumers and partners across Indonesia and Southeast Asia.

NusaTrip aims to improve the efficiency of the emergency travel or medical evacuation for patients in need and to support the home care or onsite health care services offered by many doctors, hospitals, and clinics. As NusaTrip’s partner of choice, the Indonesian health technology company, Periksa.id has been providing an extensive solution to digitize and improve the quality of healthcare facility services in Indonesia.

The Founder and CEO of Periksa.id, Sutan Imam Abu Hanifah explains, “Our new collaborative feature will help doctors and medical staff to easily check the airline’s schedule and seat availability for various arrangements, from purchasing tickets for patients in care who are in need of emergency travel or medical evacuation, assisting doctors on business trips such as regular meetings and attending conferences, to helping medical staffs in finding good deals for their short break or recharge.”

He adds that through the collaboration, Periksa.id users can now use and exchange their loyalty points for travel-related products and services on NusaTrip, and the company has received positive feedback since its launch.

The collaboration of NusaTrip and Periksa.id is one of many partnerships to come in gearing up towards the recovery of the travel industry in Indonesia and SEA by 2023/ 2024, following the OTA’s acquisition in July 2022 by Society Pass, a global digital commerce ecosystem and loyalty platform company operating in 5 major markets in SEA. With strong support and the new digital ecosystem from Society Pass, NusaTrip enhances its capability to embark on regional expansion and unlimited avenues to grow more channels and revenue streams.

[1] NusaTrip is the travel vertical and part of Society Pass Inc. next-gen digital ecosystem and loyalty platform.

About Periksa.id

Periksa.id is an Indonesian health technology company that provides an end-to-end cloud-based web and mobile application-as-a-solution that digitize workflow, resources, services, payment, and medical record database management in small-to-large local general-to-specialist, private to state-owned hospitals and clinics in the 1st to 3rd tier cities across the country since its establishment in 20017. For more information, please check out: https://www.periksa.id.

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

Maxim Group: Society Pass (Nasdaq: SOPA) – Despite Challenging Global Macro Environment, Reiterates Positive Outlook on SOPA Based on Strong Revenue Generation and Compelling Valuation

Maxim Group LLC (“Maxim”) 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 Maxim Group LLC Equity Research Report. https://maxim.bluematrix.com/sellside/EmailDocViewer?encrypt=eb2534e9-6164-47b7-a389-c2efe2f9983d&mime=pdf

Summary Points:

– Positive view of early stages of building SEA ecommerce company. Luxury store, Leflair provides luxury goods online. Additional businesses include online delivery companies Handycart and Pushkart (bought during 1Q22), as well as Gorilla Networks, a telecom MVNO (early June 2022). During 3Q22 the company acquired Thoughtful Media, a digital influencer, Mangan.ph, restaurant delivery, and NusaTrip, an online travel agency. SoPa will launch a loyalty points offering. Maxim believes Thoughtful Media can market SoPa’s other brands and the food delivery and luxury brand businesses can be expanded geographically. Maxim has a positive view on the SE Asian market due to increasing mobile and ecommerce penetration, younger populations, travel coming back, and the opportunity to consolidate smaller companies.

– Significant year on year revenue growth in 3Q 2022. 3Q22 revenue of $2.1M increased significantly from $84K in the prior year quarter. Digital marketing accounted for over half of the quarter’s revenue. Results were also held back as most of its businesses were very early stage. The company is in the process of restructuring several of its businesses to improve revenue and profitability.

– Healthy balance sheet and cash levels. The company ended September 2022 with $23M in unrestricted cash and no debt. Maxim projects current cash levels as sufficient to fund organic growth over the next two years.

– Challenging macro environment, yet positive on micro company business plan. Maxim factors in a more challenging macro environment impacting Society Pass’ end markets and notes that Sea Ltd (SE – NR), SE Asia’s largest internet company, has laid off 10% of staff in past 6 months and during its 3Q22 conference call projected lower than expected bookings for 2022. Maxim still expects SE Asia to be one of the fastest relative growth markets and anticipates SOPA to grow from spending on marketing, expansions, the launch of loyalty points in 4Q22, and contributions from all announced acquisitions. Maxim believes many of the businesses can be expanded geographically and benefit from greater capital.

– Strong revenue generation in 2023. Maxim projects revenue to increase from $0.5M in 2021, to $7.0M in 2022, and $40.1M in 2023. The increase is due to the significant expected contribution from acquisitions and organic growth. Maxim projects 2022 adjusted EBITDA loss to widen to ($20.7M), from a loss of ($4.9M) in 2021. The wider loss is due to one time costs related to acquisitions and higher public company expenses. For 2023, Maxim projects EBITDA loss estimate to ($11.0M).

– Compelling valuation. – SOPA trades at an EV/revenue multiple of 0.5x Maxim 2023 revenue estimate with over half of its market cap in cash. Maxim $5 price target is supported by our 10-year DCF analysis, which utilizes a 22% discount rate, 15x terminal multiple, and 3% terminal growth rate and equates to an EV/revenue multiple of 2.5x. The 2.5x multiple target is roughly inline with the peer group average of 2.4x. Our positive outlook is supported by the attractive SE Asian markets and opportunities to consolidate smaller companies. Maxim reiterates Buy rating.

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

Society Pass Inc (Nasdaq: SOPA) Reports Breakout 9 Month 2022 and 3Q 2022 Financial Results

Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), SEA’s leading data-driven loyalty, fintech and e-commerce ecosystem, today announces a filing of its 3Q 2022 Form 10-Q with the Securities and Exchange Commission. Please see filing here. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001817511/000160706222000677/sopa093022form10q.htm

Summary Points:
– Nine months 2022 unaudited revenues grew 2,870% year on year (from $100,823 for nine months ended 30 September 2021 to $2,994,416 for nine months ended 30 September 2022).
– Third quarter 2022 unaudited revenues grew 2,354% year on year (from $83,534 for third quarter ended 30 Sep 2021 to $2,050,264 for third quarter ended 30 September 2022).
– Third quarter 2022 unaudited revenues grew 311% quarter on quarter (from $499,062 for second quarter ended 30 June 2022 to $2,050,264 for third quarter ended 30 September 2022).
– With cash on hand of $23 million on 30 September 2022, SoPa is well capitalised for roll out of Society Pass loyalty platform and continuing acquisitions of Southeast Asia (“SEA”) companies in loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals for the rest of 2022 and 2023.
– Since inception, SoPa has onboarded 3.3 million registered consumers and over 205,000 registered merchants/brands onto its ever-expanding next generation digital ecosystem and loyalty platform in SEA.
– SoPa completed a total of three acquisitions in 3Q 2022.

Unaudited nine month 2022 revenues grew 2,870% year on year (from $100,823 for nine months ended 30 September 2021 to $2,994,416 for nine months ended 30 September 2022).

Unaudited third quarter 2022 revenues grew 2,354% year on year (from $83,534 for third quarter ended 30 September 2021 to $2,050,264 for third quarter ended 30 September 2022).

Unaudited third quarter 2022 revenues grew 311% quarter on quarter (from $499,062 for second quarter ended 30 June 2022 to $2,050,264 for third quarter ended 30 September 2022).

Reporting cash on hand of $23 million on 30 September 2022, SoPa is well capitalised for roll out of the Society Pass loyalty platform and continuing acquisitions of SEA companies in loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals for the rest of 2022 and 2023.

SoPa completed a total of three acquisitions in 3Q 2022, including Thoughtful Media Group (“TMG”), a Thailand-based a social commerce-focused, premium digital video multi-platform network, Mangan.ph, a Philippines-based restaurant delivery app, and a social commerce-focused, premium digital video multi-platform network, NusaTrip, a leading Indonesia-based Online Travel Agency.

With these three acquisitions, SoPa has now amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its ever-expanding next generation digital ecosystem and loyalty platform in SEA.

In the third quarter 2022, SoPa opened Bangkok and Jakarta offices.

Remarking on SoPa’s breakout 3Q 2022 financial performance, Society Pass CFO, Raynauld Liang, comments, “Our continuing robust year-on-year and quarter-on-quarter sales expansion confirms our momentum building, acquisitions focused operating model. We saw dramatic rise in revenues and number of registered consumers and registered merchants/brands. Leflair continues to recognise strong revenues, whilst our TMG and Nusatrip subsidiaries are generating the bulk of sales for the entire company. With the strong foundation being built, we look to achieve new highs in revenues as well as number of registered consumers and merchants in 4Q 2022 as we integrate market leading companies in the loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals.”

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

Society Pass (Nasdaq: SOPA) to Present at the Sigma Europe Gaming Festival on 14-18 November 2022

Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (“SEA”) leading data-driven loyalty and e-commerce ecosystem, today announces that Company Founder, Chairman, and CEO Dennis Nguyen has been invited to present at the Sigma Europe Gaming Festival to be held on 14-18 November 2022. The in-person venue for the event is the Malta Fairs & Conventions Centre located at Millennium Stand, Level 1, The National Stadium, ATD 4000, Malta.

Mr. Nguyen will serve as one of the panelists for the “Entering One of the Fastest Growing Verticals: Fintechs” to be held on Day 3 of the Sigma Europe Gaming Festival at 1 pm on Thursday, 17 November. Fintechs, such as the Society Pass loyalty platform, have disrupted virtually every vertical in the financial, e-commerce and gaming industries, and there’s a wealth of opportunity to capitalize on as stakeholders.

SiGMA is the world’s leading hub for everything involving the iGaming industry from regulation, to financing, to marketing related to the sector. The Sigma Europe Gaming Festival brings together operators, providers, software developers, innovators, entrepreneurs and investors for three days of panels, discussions, keynote speeches, workshops and engaging networking events.

Event: Sigma Europe Gaming Festival
Date: 14-18 November 2022
Location: Malta Fairs & Conventions Centre located at Millennium Stand, Level 1, The National Stadium, ATD 4000, Malta.

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

Legend Capital Portfolio Company Atour Successfully Lists on Nasdaq

On the evening of November 11, Beijing time, Legend Capital portfolio company Atour Lifestyle Holdings Limited (Atour) was officially listed on the Nasdaq Stock Exchange in the United States. It has priced its initial public offering of 4,750,000 American Depositary Shares (ADSs) at US$11.0 per ADS.

Founded in 2013, Atour is a leading hospitality and lifestyle company in China with a distinct portfolio of lifestyle hotel brands, such as A.T. HOUSE, Atour S, ZHOTEL, Atour Hotel, Atour X and Atour Light, as well as scenario-based retail brands, including Atour Market. It has further divided its private labels into three product lines – aTOUR PLANET, SAVHE and Z2GO&CO. As of June 30, 2022, Atour has launched a total of 1,967 SKUs, 62.8% of which are private-label products.

According to the prospectus, as of September 30, 2022, Atour has opened 880 hotels, a year-on-year increase of 26%. According to Frost & Sullivan, Atour is the largest upper midscale hotel chain with a diversified brand portfolio in China in terms of room numbers for five consecutive years as of the end of 2021.

As an important institutional investor and close partner of Atour, Legend Capital led the investment in Atour in 2016, and continued to make additional investments in Atour’s subsequent financing rounds in 2017 and 2021. Following the investment, Legend Capital has continuously supported Atour’s development by providing multiple value-added services in terms of development strategy, corporate governance and incentive mechanism, listing work and business resources.

Legend Capital said: ” The past nine years have witnessed Atour’s continuous development since its first hotel opening in 2013. Looking back at the development of China’s hotel industry over the past decade, Atour is the only company with precise positioning and bringing changes to China’s hotel industry. It has brought a new service standard to the industry. It is also a lifestyle consumer brand providing a warm and happy feeling that can be remembered by customers. Atour’s founder and the team are rare talents in the domestic hotel industry. The team is dynamic and young, with over ten years of operating experience in the hotel industry. The listing marks a new milestone for Atour. It is not only an affirmation of the past achievements of Atour, but also an acknowledgment of their tenacity and professionalism. This also reflects the expectation for the future innovation and development of Atour. As Atour’s investor, we are proud to be able to participate in and witness its growth.”

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).

Led by Legend Capital, PureFDA Secures Over CNY100 million in the Series B Round

Recently, PureFDA Medical Technology (Guangzhou) Co., LTD. (hereinafter referred to as PureFDA) announced the completion of the Series B round of financing of over CNY100 million, which was led by Legend Capital and followed by the existing shareholder Bayland Capital. This round of funds will mainly be used for the construction of overseas medical device resources, the expansion of the professional talent team, the strategic expansion of the medical devices field, and the upgrading and iteration of the big data information platform.

Founded in June 2020, PureFDA is a global-leading SaaS + Data service life science service provider that focuses on whole-process informatization of medical devices going overseas in the global market. Besides, the company is dedicated to providing whole-process consulting services for compliance access to the global market for products such as medical devices, in vitro diagnostics and medical software AI, covering device regulations consultation, local authorized representatives, product certification and registration, overseas clinical trials, technical documentation and system guidance, product testing, etc.

Relying on its top-notch expert team with regulatory certification and extensive clinical experience, PureFDA provides one-stop solutions such as whole-process consulting services for compliance access to the global market and overseas clinical trials. The company’s service network has spread to 10 countries and regions worldwide, including the United States, Germany, Italy, Spain, Switzerland and Poland. Moreover, it has been doing business with over 100 Chinese and international medical and biotech companies and has been widely recognized by industry insiders. PureFDA has 8 branch companies and possesses scarce clinical resources in the industry. Its overseas clinical centers in Europe and the United States have been certified with qualifications such as CLIA, CAP and ISO 17025.

Regarding this financing, MENG Zhu, the founder of PureFDA, said, “Our original intention is to help Chinese medical device enterprises go overseas and expand overseas clinical resources. With 10 major clinical centers, we are committed to creating a one-stop and full-chain service ecosystem. Through the accumulation of experience in the field of computer technology and big data, we empower medical innovation by using the new generation of information technology to establish a standardized and digital system for medical devices going overseas. With the professional consulting service for multinational medical device market access and high-quality overseas clinical resources, PureFDA is capable of meeting the needs of Chinese medical device enterprises for cross-border registration of CROs in multiple countries and categories. PureFDA’s development is inseparable from the strong support of new and existing shareholders and customer partners. With the fresh proceeds, we will continue to upgrade the global regulation intelligence platform and help medical device enterprises license-out their products by providing data services such as trade analysis, overseas dealer network and clinical trend research.”

Joe ZHOU, managing director of Legend Capital, said: “Going overseas has become a consensus in the development of China’s medical device enterprises, but it also faces a series of difficulties and challenges, of which the sore points are mainly concentrated in the access and marketing to the overseas market. With the increasing tightening of global device regulations, it is difficult, costly, long cycle, low efficiency and low success rate for enterprises to independently complete overseas access, leading a great need for the assistance of CRO service providers who focus on going overseas. However, the traditional expert CRO services are difficult to meet the diversified demands of the highly dispersed downstream device enterprises for their products to go overseas, and the scale effect and profitability of CRO enterprises also encounter bottlenecks. With its rich overseas clinical resources and new digital CRO services driven by data and algorithms, PureFDA has successfully achieved cross-country, cross-department and cross-category CRO capabilities, as well as significant advantages in cost reduction and efficiency enhancement. PureFDA is a company expected to break the bottleneck of traditional device CRO enterprises and bring disruptive changes in the equipment CRO industry.”

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 Appoints Management Team for Nusatrip; Unveils New Nusatrip Logo, Features on Website/App and Plans for Society Pass’ Customer-Centric Digital Ecosystem and Loyalty Platform for Indonesia and in Southeast Asia

Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (“SEA”) leading data-driven fintech and e-commerce ecosystem, today introduces the new Nusatrip CEO and announces its strategic plans moving forward, expanding Nusatrip business coverage throughout SEA. The recent acquisition of Nusatrip International Pte Ltd (“Nusatrip”), a Indonesia-based pioneer in the Online Travel Agent (“OTA”) sector, extends Society Pass’ reach into the booming SEA regional travel industry with a strong commitment to developing a vibrant online travel platform for both merchants and consumers in SEA.

Society Pass executives announces the appointment of Nusatrip’s new CEO, Johanes (Joe) Chang, welcoming Nusatrip into Society Pass’ growing ecosystem of technology enabled companies, joining the Society Pass team in its brand new Indonesia office in Jakarta and unveiling Nusatrip’s new logo and features for its website and app. Dennis Nguyen, Society Pass Founder, Chairman and Chief Executive Officer, explains, “We are happy to announce the opening of Society Pass’ and Nusatrip’s Indonesia office as one of our important milestones in synergistically growing the OTA business within the Society Pass e-commerce ecosystem and loyalty platform. With his many years of experience in managing travel and technology companies, Joe will immensely contribute and drive Nusatrip to greater heights in the years ahead.”

Society Pass steps into the Indonesia market with a big agenda; to strengthen its position as the pioneer of the next-generation digital ecosystem and loyalty platform in Indonesia and throughout SEA. SoPa looks to acquire attractively valued companies in SEA to join its next generation digital ecosystem with key focuses on loyalty, lifestyle, F&B delivery, telecommunications, digital media, and travel.

Patrick Soetanto, Society Pass Indonesia Country Manager, adds, “Jo will drive our journey in generating new revenue streams by integrating Nusatrip’s robust technology and operational efficiency of its leading e-commerce travel platform into our ecosystem. We are reenergizing the OTA business in Indonesia and throughout SEA, to meet the increasing demand of pre-pandemic travel in the regions. More importantly, both Society Pass and Nusatrip aim to boost the travel and digital economy sectors in Indonesia.”

Johanes (Jo) Chang, CEO, Nusatrip elaborates, “I would like to thank both Messrs. Nguyen and Soetanto for placing their trust in me to lead Nusatrip and am honored to take on the position as Nusatrip’s new CEO. By integrating into the Society Pass fintech and e-commerce ecosystem, Nusatrip embarks on regional expansion and unlimited avenues to grow more channels and revenue streams. With strong support from Society Pass and partners, we are gearing up towards the recovery of the travel industry in Indonesia and SEA in 2023 and 2024.”

Jo adds, “Nusatrip’s mission is to become a world-class OTA and the most reliable partner for airlines and hotels, offering wide range of travel and tourism related products, services, and experiences to our customers and business partners globally. With our industry recovering from the pandemic, we will continue working within our digital ecosystem and loyalty platform to offer better travel products and services for our customers across SEA.”

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, 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/.

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. In 2022, NusaTrip has officially joined the Society Pass (Nasdaq: SoPa) ecosystem, with headquarters in Jakarta and representative offices in Singapore, Vietnam, Philippines and Thailand. For more information, please check out: https://www.nusatrip.com/.

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

Society Pass Inc (Nasdaq: SOPA) Awarded Game Changer Award from Alibaba Cloud AsiaStar 10×10 2022

On Friday, 04 November 2022 during the Apsara Conference, Alibaba Cloud awarded Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (“SEA”) leading data-driven fintech and e-commerce ecosystem, the Game Changer Award in recognition of companies that set precedents or broke records in Southeast Asia (SEA).

Initiated by Alibaba Cloud in 2009, the Apsara Conference witnesses the development of digital intelligence and technological innovation and 2022 marks the 13th edition of the conference. Known as AsiaStar 10×10, along with tech ecosystem partners, Alibaba Cloud recognises companies, communities, and projects in ten categories across SEA. The awardees are selected from the representatives of Alibaba Cloud, government agencies, investors, industry experts, and media outlets.

Raynauld Liang, Chief Financial Officer of Society Pass, explained, “Society Pass is building the next generation digital ecosystem in SEA. On behalf of our company, I would like to thank Alibaba for this recognition of SoPa’s paradigm shifting, game changing business model. With the digital platform we are building, Society Pass looks forward to closely working with Alibaba in the months and years ahead.”

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, 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

Society Pass Inc (Nasdaq: SOPA) Adds Cypto Currency Payments Capabilities by Partnering with Canada-based CoinSmart Financial Inc (NEO: SMRT) (FSE: IIR)

  • Society Pass Inc (Nasdaq: SOPA) establishes a strategic crypto payment partnership with Canada-based CoinSmart Financial Inc (NEO: SMRT) (FSE: IIR), a leading crypto asset trading platform
  • CoinSmart provides crypto currency transaction settlement services for consumers and merchants on SoPa’s fintech ecosystem through it’s SmartPay crypto payment processing services
  • By incorporating SmartPay’s crypto payment capabilities, SoPa expects a dramatic increase in the number of customers, user viscosity and revenue growth on its next generation digital ecosystem and loyalty platform in Southeast Asia

Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) leading data-driven fintech and e-commerce ecosystem, today announces the establishment of a strategic crypto currency payment partnership with Canada-based CoinSmart Financial Inc (CoinSmart) (NEO: SMRT) (FSE: IIR), a leading Toronto-headquartered crypto asset trading platform.

Under this paradigm shifting collaboration, SmartPay by CoinSmart provides transaction settlement services in crypto currency for consumers and merchants on SoPa’s ecosystem. Leveraging CoinSmart’s advanced technological solutions spanning crypto payments, invoicing, trading, auto-sell wallets and crypto withdrawals, SoPa now offers more diversified and cost-saving payment options. In particular, merchants on SoPa’s loyalty platform are now enabled to enjoy new growth in customer base, low processing costs and quicker settlement processes.

Backed by the ever-increasing number of users worldwide, crypto has become the world’s fastest-growing payment method. According to Allied Market Research, the global crypto currency market size was valued at US$1.03 billion in 2022 and is projected to reach US$4.94 billion by 2030, growing at a CAGR of 12.8% from 2021 to 2030. Along with the continuous expansion of the global market, according to a new survey by Deloitte, nearly 75% of retailers plan to accept crypto payments in the next 24 months.

CoinSmart’s user-friendly platform features instant verification, enterprise-grade security, cold wallet storage and reporting tools for tax and audit purposes in the meantime. Currently, CoinSmart supports popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Stellar, etc. as well as fiat currencies including CAD, USD, EUR and AUD.

Dennis Nguyen, Founder, Chairman and Chief Executive Officer of Society Pass, explained, “According to a report by White Star Capital, SEA is a hotbed for crypto adoption with over 23.5 million crypto owners alone or a 3.56% crypto ownership rate. In fact, Singapore has a higher percentage of crypto ownership than the United States. As a result, we see huge market potential and demand in crypto payments in the region and, combined with the synergistic effect created from the payment partnership with CoinSmart, SoPa’s data-driven fintech and e-commerce ecosystem will drive crypto payment adoption in SEA even higher.”

“We are beyond excited to extend our partnership landscape to Canada and to welcome CoinSmart to the SoPa family as it perfectly aligns with our expansion and partnership strategy. After incorporating CoinSmart’s blockchain capabilities, our ecosystem is expected to see an increase in the number of customers, user viscosity and revenue growth,” added Mr. Nguyen.

Started in 2018, CoinSmart has been a secure and intuitive platform for trading digital assets. As a FINTRAC restricted dealer and marketplace through the Canadian Securities Association (CSA), CoinSmart breaks down the barriers of complex cryptocurrency transactions with an emphasis on educating the crypto curious. CoinSmart, in addition, offers simple solutions, learning tools for all levels, and 24/7 omni-channel client support.

Justin Hartzman, CEO of CoinSmart, commented “The vision of CoinSmart is to build a democratised crypto trading platform where consumers can easily access payments via email, user’s business website and in-person at a click of a button. As crypto is the fastest-growing payment method across the globe, our SmartPay services eliminate chargebacks and significantly reduce costs of processing fees compared to other processing options. By joining forces with SoPa’s extensive ecosystem and large user base in SEA, we are thrilled about the combined marketing capabilities we now bring collectively to our partners and customers.”

Society Pass has been leveraging cutting edge technology to tailor an unprecedented purchase experience for the next generation customers with an aim to ultimately transform the entire retail value chain in SEA. SoPa makes continuous efforts in diversifying the Company’s ecosystem and capturing growing opportunities in the market under new meta economy, 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, 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/.

About CoinSmart
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand. CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency knowledge and unparalleled 24/7 omni-channel customer support. Offering instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services, CoinSmart ensures every client’s needs are met with the highest level of quality and care. For more information, please visit www.coinsmart.com or smartpay.coinsmart.com.

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

Legend Capital Portfolio Company Giant Biogene Successfully Lists on the HKEX

Giant Biogene is a leader in the bioactive ingredient-based professional skin treatment product industry in China and the first company in the world to successfully develop and industrialize recombinant collagen skin treatment products. Giant Biogene has been the largest collagen-based professional skin treatment product company by retail sales in China for the latest three consecutive years since 2019. According to Frost & Sullivan, Giant Biogene was the second-largest professional skin treatment product company in China in 2021, and its Collgene and Comfy, the flagship brands of recombinant collagen-based products, were the third and the fourth best-selling professional skin treatment brands, respectively. Giant Biogene is the first company to obtain a medical device registration for recombinant collagen-based products in China.

Legend Capital participated in Giant Biogene’s only round of financing in 2021. Following the investment, Legend Capital provided Giant Biogene value-added services on core issues such as business strategy discussion, upstream and downstream business resource docking, executive talent introduction, and IPO listing process.

Richard LI, President of Legend Capital, said: “Congratulations to Giant Biogene on its successful listing on the main board of the Hong Kong Stock Exchange. Legend Capital is very honored to be an investor in Giant Biogene and to carry out in-depth investment cooperation with the company. With 22 years of development and unremitting efforts under the leadership of the company’s management, Giant Biogene has achieved excellent results and has become a pioneer enterprise in the field of biosynthetic materials and products in China. We hope that Giant Biogene will make steady progress and achieve greater achievements in the future development and continue to brave the wind and the waves in the changing market.”

Tony WANG, Managing Director of Legend Capital, said: “Giant Biogene is a pioneer in the synthetic biology industry. It not only builds a leading technology platform for genetic engineering, tissue engineering and material engineering but also applies scientific research results to the field of healthcare. Giant Biogene demonstrated the best practice out of the combination of production, education and research. We look forward to this diligent and pragmatic team continuing to go forward and leading Chinese brands to the international market in the future.”

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).