Category: Retail & eCommerce

CleverTap Unveils Signed Call(TM) for Trusted and Contextual Customer Engagement

CleverTap, the all-in-one engagement platform, today announced the launch of Signed Call™, an industry-first, VoIP-enabled, in-app voice capability for trusted and contextual customer engagement. Signed Call™ equips CleverTap customers with an effective way to engage with end-users, leveraging VoIP-enabled in-app calling for real-time, secure, and contextual customer experiences.

In the current landscape, when a brand attempts to reach its users through voice-calls (via unknown phone numbers), there is a risk of being marked as spam or worse used for scam; potentially lowering the brand’s credibility and hampering the relationship with the end-user. Even in an optimal scenario, where the call is not flagged as spam or scam, the interaction lacks context, resulting in low conversions.

With Signed Call™, brands have the ability to personalize the in-app call screen by adding the brand name, logo, as well as providing context for the call. This provides the end-user with the requisite context, enhancing the call pick-up rates. Moreover, brands are not required to disclose end-user PII data (Personally Identifiable Information) to unauthorized individuals or agents while using Signed Call™, thus mitigating privacy concerns. This no-code solution also comes with pre-built use cases and call screens for easy implementation.

“Users often choose not to pick up calls if the caller isn’t a known contact. This can lead to dropped calls and missed opportunities for a business. When extrapolated to the scale of a user-base, it can lead to a significant loss in revenue, and erosion of trust. However, with Signed Call™, CleverTap customers can offer a personalized and secure experience, maximizing the chances of conversions and ultimately increasing revenue.

Signed Call™ has already seen success with a select group of our customers who were part of the Early Access Program wherein significant improvements were observed in call answer rates and engagement levels”, said Anand Jain, Co-founder and Chief Product Officer, CleverTap.

The introduction of Signed Call™ is poised to revolutionize how brands connect with users through voice as a channel; especially within the Ride Hailing, BFSI, and Food Delivery app-categories, as well as in other industries looking to create more personalized customer experiences. It aims to transform customer engagement and elevate trust to a whole new level.

The Head of Product of a leading job search portal using Signed Call™ said, “Our customers are recruiting firms who previously would call candidates on their mobiles, with answer rates around 10-15%. Candidates were slow to act as they weren’t sure if the call was actually from the company they applied for. But since integrating Signed Call™, answer-rates even during periods of low-hiring have been at 33% while peak season has seen this figure climb to as high as 52%; 3 to 4 times higher than before.”

About CleverTap

CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.

The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.

CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.

Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, and Jakarta.

For more information, visit clevertap.com or follow us on:
LinkedIn: https://www.linkedin.com/company/clevertap/
X: https://twitter.com/CleverTap

Forward-Looking Statements

Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.

Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.

For more information:
SONY SHETTY
Director, Public Relations, CleverTap
+91 9820900036
sony@clevertap.com

IPSHITA BALU
Consultant
Archetype
+91 95901 11798
ipshita.balu@archetype.co

U.S. Polo Assn. Supports Star-Studded ‘Boo-Yah’ Night for The V Foundation for Cancer Research

  • Sport-Inspired Brand Collaborates with Verite for Exclusive Sport & Culinary Experience

U.S. Polo Assn., the official brand of the United States Polo Association (USPA), proudly sponsored the V Foundation for Cancer Research®’s 30th Anniversary through the “Boo-Yah, A Celebration of Stuart Scott” cancer research event, which was attended by professional athletes, celebrities and other influencers. The V Foundation is named for legendary basketball coach Jim Valvano and was created with one goal in mind – Victory Over Cancer®.

As a Silver Sponsor, U.S. Polo Assn. provided financial support for the the V Foundation’s signature event as well as one of only a few high-profile live auction items, to help fund game-changing research and all-star scientists to accelerate Victory Over Cancer® and save lives. U.S. Polo Assn.’s strategic partner, ESPN, the sports media entertainment brand, is a founding member of the V Foundation, which has a long-standing commitment to resolving cancer health inequities by investing in extraordinary people and cutting-edge research.

U.S. Polo Assn.’s luxury auction item included an all-inclusive trip to the prestigious U.S. Open Polo Championship® in April 2024 with two first-class, round-trip tickets to Palm Beach County, home of the winter equestrian capital of the world, a two-night hotel stay at the iconic Ben Hotel, and two VIP tickets to the Champagne Brunch and VIP Championship After Party at the USPA National Polo Center. In addition, the auction lot included a one-of-a-kind private chef’s dining experience at the Vérité Estate in Sonoma County, California, for six people, which features a multi-course pairing of Vérité wines and delicious seasonal dishes prepared by the esteemed in-house chef at The Estate. The auction lot also included 18 bottles of 2007 Vérité wines, with each wine rated a perfect 100 Points by Rober Parker Wine Advocate.

“Boo-Yah, A Celebration of Stuart Scott” raised nearly $2.4 million, bringing the three-year total to over $5 million for game-changing cancer research. Several of the top live auction items were the U.S. Open Championship weekend in Palm Beach County presented by U.S. Polo Assn., a VIP Weekend for the Superbowl in Las Vegas, and an F1 Experience in Miami.

“The Boo-Yah event and the V Foundation for Cancer Research are perfectly aligned with U.S. Polo Assn.’s core values as well as our authentic connection to sport and inspiration,” said J. Michael Prince, President and CEO of USPA Global, the company that manages and oversees the multi- billion-dollar U.S. Polo Assn. brand. “I’ve admired Jimmy Valvano as a coach, known for one of the biggest upsets in college basketball history when he was with North Carolina State. Not to mention, we are extremely proud to support cancer research with the V Foundation and to have access to this incredible sponsorship opportunity through our strategic partnership with ESPN.”

The “Boo-Yah!, A Celebration of Stuart Scott” cancer research event was held at the Ziegfeld Ballroom in New York City on December 4, 2023. Hosted by Sage Steele, the event honored the legacy of Stuart Scott, former ESPN SportsCenter anchor who passed away of cancer in 2015.

“I would like to offer my tremendous thanks to J. Michael Prince and U.S. Polo Assn. for putting together such a special auction item,” said CEO, Shane Jacobson, V Foundation. “It’s very generous contributions like these that help us invest in the best and brightest scientists who are working on cancer treatments of the future and saving lives.”

To learn more about The Boo-Yah! and the V Foundation, please visit: v.org

About U.S. Polo Assn. & USPA Global

U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the non-profit governing body for the sport of polo in the United States and one of the oldest sports governing bodies, having been founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through over 1,200 U.S. Polo Assn. retail stores and thousands of department stores, sporting goods channels, independent retailers, and e-commerce, U.S. Polo Assn. offers apparel for men, women, and children, as well as accessories and footwear in more than 190 countries worldwide. U.S. Polo Assn. was named as one of the top global sports licensors alongside the NBA, NFL, and MLB, according to License Global. Visit uspoloassnglobal.com and follow @uspoloassn.

USPA Global is the for-profit subsidiary of the USPA and manages the global, multi-billion-dollar U.S. Polo Assn. brand, providing the sport with a long-term source of revenue. Through its subsidiary, Global Polo Entertainment (GPE), USPA Global also manages Global Polo TV, which provides sports and lifestyle content. A historic, multi-year, global arrangement between USPA Global and ESPN, now showcases many of the top championship polo games in the U.S., enabling millions of sports fans and consumers to enjoy the sport across ESPN’s broadcast and streaming platforms. For more sport content, visit globalpolo.com.

About the V Foundation for Cancer Research

The V Foundation for Cancer Research was founded in 1993 by ESPN and the late Jim Valvano, legendary North Carolina State University basketball coach and ESPN commentator. The V Foundation has funded over $353 million in game-changing cancer research grants nationwide through a competitive process strictly supervised by a world-class Scientific Advisory Committee. Because the V Foundation has an endowment to cover administrative expenses, 100% of direct donations are awarded to cancer research and programs. The V team is committed to accelerating Victory Over Cancer®. To learn more, visit v.org.

Contact Information
Stacey Kovalsky
VP Global PR and Communications
skovalsky@uspagl.com 
+001.561.790.8036

Shannon Stilson
VP, Sports Marketing & Media
sstilson@uspagl.com 
+001.561.227.6994

Igloo closes US$36M Pre-Series C fundraise with 50% valuation increase

Regional insurtech Igloo today announced that it has closed a US$36 million Pre-Series C funding round. Global investment firm Eurazeo, through its insurtech fund backed by the insurer BNP Paribas Cardif, led the investment. Openspace and La Maison, who previously participated in Igloo’s Series B and Series B+ fundraises, also joined in, reaffirming their confidence in the company’s strong business fundamentals. Eurazeo invested through its insurtech fund focused on innovative technologies and business ideas disrupting the insurance industry, whilst Openspace’s investment in this round comes via its mid-stage fund, OSV+, which is focused on the Series C and D rounds of transformative technology companies in Southeast Asia.

Matthieu Baret, Managing Partner – Venture at Eurazeo shared: “We are thrilled to invest in Igloo with the insurer BNP Paribas Cardif. With our investments in China, Indonesia, India, and Singapore, we’re extending our footprint with the ambition to become a leading player in Asia.”

“We have been following Igloo for some time now and have been impressed with their evolution into a diversified insurance platform across channels and products. The insurance market in Southeast Asia is still very underpenetrated and we believe Igloo is in a strong position to help solve this by making insurance more easily accessible and understandable for consumers,” shared Albert Shyy, Managing Director, Eurazeo.

This latest round comes just 10 months after Igloo’s previous Series B+ fundraise led by BlueOrchard-managed InsuResilience Investment Fund II. In total, the company has raised US$100 million. Notably, Igloo’s Pre-Series C round closed at an increased valuation of 50 percent from its Series B+ round in 2022, as the company moves closer to profitability in 2024. Igloo is on track to double its 2022 Gross Written Premiums (GWP) at a low burn rate; its robust engineering core and data focus, the company’s path to profitability in 2024 is set.

“We’re always thrilled when the opportunity arises to keep investing in a company at the mid-stage that we’ve previously backed – and Igloo’s recent growth and steps towards profitability have given us further confidence in the business’s ability to capture and expand the insurance market in Southeast Asia,” said Jessica Huang Pouleur, Partner, Openspace Ventures. “Our team has been actively involved in working with Igloo to this point, and those existing relationships will enable us to seamlessly continue adding operational and commercial value as the business integrates, acquires, and strengthens capabilities.”

Asia’s insurance market is brimming with untapped potential, especially in emerging economies like Indonesia, Vietnam, and the Philippines. Despite the rising adoption of insurance, many remain underinsured. This vast, underserved demographic has caught the attention of investors, with companies like Igloo standing out due to their innovative approach to the evolving landscape in these markets – addressing pain points across the insurance value chain for insurers, sales intermediaries, retailers and consumers.

Igloo’s recent scores include two innovative offerings. In 2022, it launched Ignite by Igloo, a digital platform that enhances the productivity of sales intermediaries in Vietnam and Indonesia. Ignite by Igloo works with 22,000 sales intermediaries and agent partners and aims to close 2023 with 50,000 agents as it expands into other markets. In line with Igloo’s purpose of improving financial inclusion for underserved segments, over 60 per cent of Ignite by Igloo’s intermediary partners are female.     

Another innovation for Igloo is its Weather Index Insurance, a pioneering blockchain-based parametric insurance for farmers. The product has drawn interest from partners in Vietnam and across Southeast Asia for its potential to greatly benefit the agricultural sector. Despite its novelty in a highly traditional sector, Weather Index Insurance has already been adopted by thousands of farmers since launching last November and covers 20,000 hectares of coffee and padi farms.

Igloo has facilitated over 500 million policies and aims to double its Gross Written Premium (GWP) from 2022. As of today, it has also actively established over 75 partnerships across six countries, expanding its product offerings to cover consumer finance, e-commerce, and logistics. In August 2023, Igloo was named ‘Insurtech of the Year’ by the Asia Fintech Awards.

The new funding will go towards both horizontal and vertical M&A opportunities – having added intermediary licenses across SEA this year, in addition to its license in Indonesia. It will also increase its workforce by 20% across engineering, commercial, strategy and insurance-focused verticals. On the product and value chain enhancement aspect, it looks to double down on motor, health, climate-related products, underwriting and claims digitization and AI and blockchain technologies.

Raunak Mehta, Co-Founder and CEO at Igloo, shared, “The support from our investors is a testament to Igloo’s steady growth and resilience amidst macro headwinds and a validation of our strategy. We are the only insurtech in Southeast Asia with a robust profit and loss (P&L) statement, a diverse multi-product portfolio, and an extensive distribution line.” 

About Eurazeo

Eurazeo is a leading global investment group, with a diversified portfolio of €35.2 billion in Assets Under Management, including €25 billion from third parties, invested in around 600 companies. With its considerable private equity, private debt, real estate asset and infrastructure expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 400+ professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo. Eurazeo is listed on Euronext Paris.

About Openspace

Openspace is a leading Southeast Asian venture capital firm, finding and backing companies creating a transformative impact where tech meets life. It has 6 funds with $800M in committed capital and has 39 dedicated employees, including full-time specialists within the Portfolio Success team. It is co-headquartered in Singapore and Jakarta, with active offices in Bangkok, Manila and Ho Chi Minh City. Its portfolio of 40+ companies includes GoTo, Pick Up Coffee, Halodoc, Kredivo Holdings. www.openspace.vc

About Igloo

Igloo is a regional full-stack insurtech firm headquartered in Singapore. It has offices in Singapore, Indonesia, Thailand, The Philippines, Vietnam and Malaysia and tech centres in China and India.  With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimise and enhance existing products and services. It has partnered with over 75 well-known brand names across the markets in various verticals, including insurance, telecommunications, e-commerce, hospitality, health tech and financial services. Recognised by the industry for its innovations and expertise in its space, Igloo was named ‘Insurtech of the Year’ in the 2023 Asia Fintech Awards. For more information, please visit https://www.iglooinsure.com/.

For Media Enquiries
PRecious Communications for Igloo,
igloo@preciouscomms.com

AJ Issenman Joins AELF FlightService as Director of Capital Markets

AELF announced today that it has welcomed Alexander “AJ” Issenman to the company as Director of Capital Markets. Issenman joins AELF from Seabury Capital, where he served as a Director at Seabury Capital Management focusing on merchant banking and capital markets transactions across the aviation, aerospace and defense sectors within the merchant banking and capital markets group.

“We are grateful to add AJ to our team as we seek to broaden the reach of our leasing business,” said Victoria Ricks, spokesperson for AELF. “AJ’s background and experience make him a great addition to the strategic growth of our portfolio of leased aircraft.”

AELF owns and leases a fleet of A330s which include a mix of high-density seating, dual-class seating, and light cargo configurations. This year the company has begun expanding its investment in 737-800s.

“I’m eager to get into the market with all that AELF has to offer,” said Issenman. “The company’s unique capabilities, creative and nimble approach, offer a lot to airlines and other partners in the industry. I’m excited by all that can be achieved in this new role.”

AELF reports it will seek to put capital resources to work with the acquisition of aircraft subject to lease. “For several years we have focused on acquiring dormant aircraft and sourcing new lessees. With AJ coming aboard, we’re expanding our focus, and leveraging the experience of our team and Board,” Ricks said.

“With significant available capital resources and comfort in acquiring “stub leases” or dormant aircraft, AELF is a perfect partner for fleet phase outs or the sale lease back of a specific aircraft type from an airline’s fleet plan,” Issenman said.

About the AELF Group
Aircraft Engine Lease Finance Inc. (“AELF”), which also conducts business as AELF FlightService, is an experienced leader in commercial aircraft leasing, finance, and air transport solutions for cargo and passengers. AELF is also a shareholder in widebody ACMI operator MalethAero AOC Limited. The group offers a full spectrum of services ranging from long-term operating leases, sale leasebacks and finance sales, as well as short and long-term ACMI contracts. It is unique in its ability to offer wet-to-dry leasing arrangements that enable airlines to test out new routes under Maleth’s operation before embarking on a dry lease with AELF, and unique ACMI partnerships allowing lessors to put their dormant aircraft into revenue service temporarily or long-term, among other custom solutions. Learn more at AELF-FlightService.com. For the latest updates, follow us on LinkedIn, and Instagram.

Contact Information
Helena Padilla Siles
Communications Manager
hpadillasiles@aelf-flightservice.com

LAC and ART:DIS Collaborates on Exclusive Limited-Edition Umbrellas: A Celebration of Artists Overcoming Disabilities

  • LAC joins hands with ART:DIS to celebrate the artistry of individuals with disabilities through the distribution of 40,000 umbrellas to showcase their artistic talents, championing art and resilience this festive season.

LAC, one of Asia’s leading health and wellness supplement brands, is proud to partner with ART:DIS (Arts & Disability Singapore) for a special festive initiative. As part of their year-end promotion, LAC will be distributing 40,000 limited-edition umbrellas featuring exclusive artworks from 4 talented artists with disabilities – Eugene Soh, Wesley Seah, Ling Teck Mong, and Gregory Burns.

Working with gifted talents locally, ART:DIS is an organisation that champions the cause of individuals with disabilities in the arts sector. Through fostering artistic skills and providing support through structured programmes, ART:DIS not only empowers these gifted artists to voice their unique perspectives, but also offers avenues to transform their passion into sustainable livelihoods.

Through this collaboration, LAC hopes to spotlight the extraordinary talents of these artists, raise awareness about the importance of inclusivity in the arts, and inspire communities to embrace and support individuals with disabilities in their pursuit of passion and profession this festive season. This is also reflected in LAC’s hiring practices, where they currently have 11 employees who are deaf and mute, who have been part of the company for as long as 18 years.

Celebrating Artists From Different Backgrounds
LAC is set to produce 10,000 umbrellas for each design created by the featured artists, and these will be distributed to customers throughout November and December. With a total of 4 distinct designs, one from each artist, LAC will rotate the featured design every two weeks.

In an effort to spotlight the artists, LAC aims to leverage this opportunity to amplify the personalities behind the artworks, offering them a platform to showcase their work to a broader audience.

Abstract – Loyal Blue by Eugene Soh
Eugene, once a physically fit individual faced physical challenges as a result of spinal complications but turned to art for solace. Aa a self-taught artist with a Mathematics degree from the National University of Singapore, he has become a highly sought-after impressionist artist, known for his ethereal works inspired by his deep faith and the works of masters such as Van Gogh.

Fixture of Dreams by Wesley Seah
Once a successful head-hunter with full sight, Wesley faced a life-altering challenge with a rare glaucoma condition, leaving him almost blind. Undeterred, he channeled his resilience into mastering Chinese Ink painting, a therapeutic outlet he discovered in 2015. After refining his skills at LASALLE College of the Arts, Wesley’s evocative art, characterised by dynamic strokes, now extends to colourful acrylic mediums, making him a standout talent at ART:DIS.

Fighting Fish by Ling Teck Mong
From a childhood passion for comic drawing, Teck Mong faced life-changing paralysis from a 1981 road accident. Rather than succumbing to adversity, he immersed himself in art, refining his skills through ART:DIS. Today, his journey of resilience shines through a vibrant portfolio of colored paintings.

East to West Lily by Gregory Burns
Gregory Burns is a Paralympic swimmer with four world records. His artistic journey began in Paris and took root during university, further blossoming during extensive travels through Asia, where he was deeply influenced by the region’s religious and architectural imagery. Completing his Master of Fine Art from the Royal Melbourne Institute of Technology in 1999, this internationally-acclaimed artist, featured on outlets like BBC, Time Magazine, and CCTV, has showcased his work in over 80 exhibitions worldwide, capturing the resilience of the human spirit.

Cynthia Poa, CEO of LAC Global, said of the campaign: “As we approach the festive season, a time of giving and reflection, we at LAC wanted to champion a cause that resonates deeply with us. We chose to support ART:DIS for their admirable mission of empowering artists with disabilities, and our goal is to celebrate the spirit of the season by showcasing these incredible talents. Through this collaboration, we aspire to not only delight our customers but also to amplify the message of inclusivity, diversity, and the enduring beauty of perseverance in the arts.”

Promotion Mechanics & LAC’s Christmas Sale
To own one of these limited-edition UV-protected umbrellas, customers will need to make a minimum purchase of $198 either online or in-stores between 1st November to 31st December to receive the umbrella as a complimentary gift.

Coinciding with LAC’s Christmas Sale which will run throughout November, customers will have the opportunity to stock up on their favourite LAC products or present them as gifts to loved ones with up to 48% off storewide when they purchase 4 items. Receive 28% off on the first and second products, 38% off the third, and 48% off the fourth product to save big while supporting these artists by raising awareness of their artworks.

Synergy House Achieves Record Growth with RM69.2 Million Revenue, Profits after Tax Surge by 30.24% in 3Q FY2023

Synergy House Berhad (“Synergy House” or the “Group”), a cross-border e-commerce seller and furniture exporter of ready-to-assemble (“RTA”) home furniture, today announced outstanding financial results for the third quarter ended 30 September 2023 (“3Q FY2023”).

Executive Director of Synergy House, Mr. Tan Eu Tah
Executive Director of Synergy House, Mr. Tan Eu Tah

In a remarkable display of growth, the Group reported a robust revenue of RM69.2 million and profit after tax (“PAT”) of RM8.1 million for 3Q FY2023, indicating significant quarter-on-quarter improvements. This exceptional performance for the current quarter is largely attributed to Synergy House’s business-to-consumer (B2C) sector’s improved margins, along with the strong growth in its business-to-business (B2B) operations.

Executive Director of Synergy House, Mr. Teh Yee Luen
Executive Director of Synergy House, Mr. Teh Yee Luen

The Group’s diverse global reach was highlighted in its regional revenue contributions: the United States of America (“USA”) led with RM30.9 million, underscoring its position as the largest market and a testament to the Group’s impactful B2C strategy. The United Kingdom followed closely with RM27.6 million, while the United Arab Emirates contributed RM8.6 million.

For the 9-month period ending 30 September 2023, the Group reported a total revenue of RM179.4 million and a PAT of RM16.9 million, surpassing the PAT of RM16.6 million recorded in the previous 12-month financial year ended 31 December 2022.

The B2C segment was particularly significant, contributing RM77.1 million for the 9-month period ending 30 September 2023, surpassing the total B2C revenue of RM49.6 million recorded in the previous 12-month financial year financial year ended 31 December 2022. This underscores the success of Synergy House’s targeted focus on and investment in the B2C sector.

Executive Director of Synergy House, Mr. Tan Eu Tah said, “The current quarter’s extraordinary results are a clear indicator of the effectiveness of our strategies, particularly in the B2C segment. Notably, our geographical diversification of our B2C segment to UK started to provide positive outcome with an impressive quarter-on-quarter growth of approximately 95%, with revenue reaching RM2.1 million in the third quarter of FY2023, reinforcing our position as a key player in this significant market. Our focused approach in expanding our online presence and enhancing customer engagement has paid off, leading to remarkable growth in both our B2B and B2C segments. We are thrilled with the progress and are committed to continuing our journey towards becoming a dominant force in the global furniture e-commerce market.”

Executive Director of Synergy House, Mr. Teh Yee Luen said, “We are immensely proud of our team’s efforts in achieving these results. The growth in our B2C segment, especially, represents our commitment to meeting consumer demands and adapting to market trends. Our strategies to enhance online visibility and customer reach, coupled with our focus on design innovation, are essential components of our long-term growth plan. We are confident that these strategies will enable us to further strengthen our market position and achieve sustainable growth.”

Looking forward, Synergy House is poised for continued growth with plans to enhance its B2C segment through various strategic initiatives and expand its product range through continuous design and development efforts, and explore opportunities to reach new audiences by expanding to new e-commerce platforms and entering untapped markets in different countries.

Despite global economic challenges, the Group remains optimistic about its prospects in the global furniture e-commerce market, supported by its competitive pricing and established presence in key markets such as the USA, UK, and Canada.

As at 23 November 2023, the share price of Synergy House is RM0.57, representing a market capitalisation of RM285.0 million.

Verofax is selected by PwC Middle East among Top Future50 climatech start-up

Verofax a compliance and commerce SaaS solution provider has been selected among the top Future50 climate tech start-ups by PwC Middle East to help enterprises’ accelerate on their path to Net Zero.

PWC had scoured the region and short-listed from 500 businesses across 11 categories of impact. Verofax was selected among top 6 Climate Change Management and Report (CCMR) startups for its sustainable traceability solution to help decarbonize industries and enable validated exports in line with recent regulations like EU’s Carbon Border Tax (CBAM).

PwC Middle East revealed the 50 pioneering start-ups in the Middle East at Net Zero Future50′ launch event highlighting the groundbreaking technologies and achievements in climate management and carbon emissions reporting, in addition to opportunities and challenges in growing and scaling climate tech businesses.

Dr Yahya Anouti, Partner at Strategy& and Sustainability Leader at PwC Middle East, said: “Climate tech innovation in the Middle East is being driven by some of the most dynamic entrepreneurs in our region, championing new technologies to accelerate the path to net zero. As we stand just days away from the world’s most important climate conference — COP28, taking place here in the United Arab Emirates, we are excited to shine a light on regional innovators whose organisations, we feel, are making the biggest difference in reducing emissions and accelerating decarbonisation in our region. The PwC Net Zero Future50 – Middle

East report identifies leading organisations in this space, and discusses the challenges they face in their ambition to grow and scale. Their range and diversity highlights the vibrancy of the start-up and small companies scene in the region. “

Verofax’s automates compliance, traceability and verificationAs more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO 14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at

European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.

Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling threshold are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum, and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”

Patricia Keating, Scale Lead at PwC Middle East, mentioned “In our analyses of the Middle East climate technology landscape, we see the founders of climate tech companies driving innovation that’s helping to reduce emissions and accelerate decarbonisation. We found that the largest share of our NetZero Future50 companies are working ontechnologies within the sectors responsible for most GHG emissions: With Industry, Manufacturing and Resource Management contributing 29% of Middle East GHG emissions and Energy at 46%.”

Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, commodity provenance, prevent recycling double counting, across tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.

About PwCAt PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with nearly 328,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

Established in the Middle East for 40 years, PwC Middle East has 30 offices across 12 countries in the region with around 10,000 people. (www.pwc.com/me)

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

About VerofaxVerofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune 100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.

For media inquiries, please contact: Wassim Merheby, CEO, Verofax Email: info@verofax.com 

Singapore’s Largest Brick-and-Mortar Nutrition Brand LAC Launches Nutrition for Life Campaign, Advocates Holistic Wellness with Minimal Effort

Singapore’s largest brick-and-mortar supplement brand, LAC, Leader in Antioxidative Control™, announced the launch of its Nutrition for Life campaign to encourage Singaporeans of all ages to prioritise not only their physical health but also their mental and emotional well-being. This is the first LAC-branded event since the health and wellness brand opened 54 physical stores in Singapore, further increasing its footprint in the region.

Nearly 90% of Singaporeans have indicated that the COVID pandemic has prompted them to reassess their lives, with 41% expressing increased concerns about health issues and the importance of staying healthy. However, the same group of people are finding troubles to do so – the lack of time is seen as the biggest obstacle to manage physical, mental and emotional well-being amongst Singaporeans. In a recent study, more than half of mothers (51%) expressed feelings of stress or finding it challenging to cope, mainly due to juggling between household, work and family responsibilities. Additionally, almost half of all women struggle to allocate time for their physical, mental, and emotional well-being, a sentiment that is also shared by 32% of men.

Taking cue from this pressing need for holistic wellness solutions, LAC’s Nutrition for Life campaign features a range of proprietary blends of supplements aimed to help Singaporeans  incorporate supplements into their daily lifestyle to not only improve their physical health, but also to bridge nutritional gaps, manage stress levels and achieve overall holistic health.

“The Nutrition for Life campaign embodies LAC’s commitment to inspire Singaporeans to lead healthier and more fulfilling lifestyles. We believe in empowering individuals to prioritise not just physical health but also mental and emotional well-being. Our range of proprietary blends is a step towards helping people seamlessly incorporate supplements into their daily lives. Instead of popping multiple pills, these exclusive blends formulated with  scientifically-proven ingredients encourage easy and fuss-free consumption with just one single supplement that can be consumed on-the-go for multi-hatting Singaporeans,” says Cynthia Poa, CEO, LAC Global.

LAC MASQUELIER’s® French Pine Bark Extract: SUPER ANTIOXIDANT, Perfect for Immunity Boosting

Start the day with Masquelier’s French Pine Bark. As LAC’s best-selling product, over 200,000,000 boxes of Masquelier’s French Pine Bark have been sold worldwide. This gem of a pill offers a holistic approach to beauty that goes beyond superficial enhancements, LAC MASQUELIER’s® French Pine Bark Extract antioxidant work from within, helping individuals to counteract oxidative stress and free radicals that can contribute to premature ageing and other skin-related concerns. Loaded with oligomeric proanthocyanidins (OPCs), a potent antioxidant, the product reduces the amount of free radicals in the body, allowing the body to combat pathogens and infections effectively.

LAC Activated Liver Protector: Promoting Liver Health for Better Sleep and Skin

Persistent issues that seem trivial and insignificant, such as itchy skin, with or without the onset of eczema, along with chronic fatigue, could also spell liver issues. Contrary to popular belief, poor liver function does not just affect those who consume alcohol. Excessive consumption of fatty foods and even long term medication can also stress and burden the liver, weakening its functions and increasing the risk of liver disease. The LAC Activated Liver Protector is a blend of Traditional Chinese Medicinal herbs that can prevent and relieve fatty liver, promote healthy liver function and lower bad blood lipid levels, infused with ingredients such as Hawthorn fruits, lotus leaves, and chrysanthemum flowers to keep the liver healthy.

LAC BrainSpeed: Perfect for Mental Clarity & Concentration

Managing multiple roles often causes us to lose focus and concentration. Also, as we age, so do our brains.

LAC® BrainSpeed invigorates the brain for optimal mental performance with its advanced brain formula. Made with nourishing ingredients containing Ginkgo leaf extract with 24% Ginkgo flavone glycosides and Vitamin B3, BrainSpeed is the perfect supplement to energise the brain by promoting blood and oxygen circulation.

Fast-acting and effective, this energising formula is packaged into caplets. With only a simple step added to our daily regime, BrainSpeed helps the busiest people reduce instances of forgetfulness, promotes ability to cope with mental stress and healthy mood balance, allowing them to take on the world.

LAC Probiotic Complex: Perfect for Gastrointestinal Health

In order to restore good intestinal gut flora, and boost overall gastrointestinal health, LAC introduces the LAC Probiotic Complex, further enhanced with fermented yeast and olive fruit essence to further promote stronger immune responses. It contains 6 strains of Lactobacillus and Bifidobacterium, known as the “good bacteria”, to promote more diverse good bacterial growth within the gut. Infused with indigestible maltodextrin, it acts as a prebiotic to flourish the good bacteria in the intestines, providing support for digestive discomfort and nourishing your gut health from within.

LAC Junior: LAC BrainSpeed® Junior and LAC Probiotic Junior Jelly

Packed with brain-enhancing ingredients like Omega-3 fatty acids DHA and EPA, Phosphatidylserine, and Vitamin B1, the combination of these scientifically proven nutrients in LAC’s BrainSpeed® Junior help to enhance cognitive ability and brain chemical formation to improve brain focus and promote memory. Coupled with other beneficial ingredients such as Vitamin C and Isomaltooligosaccharide, the product provides all-rounded protection for the body and mind, improving adaptation to stress and supporting gastrointestinal and digestive health.

Loaded with 12.5 billion active probiotic cells and a blend of 26 fermented vegetable fruit complex, LAC’s Probiotic Junior Jelly is a delicious and convenient way to support your child’s gut health and digestion. A potent ally for your child’s health, a strong and balanced gut can help in building a resilient immune system, minimising the risk of illnesses, especially crucial during pivotal moments like exams when falling sick can derail their preparations and performance.

USPA Global Launches USPA 1890 Fragrance for Holiday, a Classic, Sport-Inspired Scent Made for Champions

USPA Global today announced the launch of USPA 1890 fragrance in time for the holidays. From the long-standing brand that brings together elite athletes and champion horses, the award-winning USPA 1890 is the latest classic, sport-inspired American fragrance for men. USPA 1890 will launch globally in 2024. 

Inspired by and made for champions, the crisp, fresh scent of the USPA 1890 Eau de Toilette embodies the athletic skill and fierce competition of the game. Evoking the great outdoors, this multifaceted fragrance epitomizes the sport, fashion, and vitality of those who possess a sense of adventure and a winning spirit.

Classified as a woody aromatic, the USPA 1890 scent opens with a citrus zest of bergamot fused with juniper, elemi, and lavender. Clary sage and eucalyptus evoke cooling, herbal effects wrapped with oak moss, warm amber, and upcycled cedarwood leaving a signature essence with sporty, sophisticated appeal.

Sports fans and consumers alike can wrap themselves in the winning spirit of USPA 1890 fragrance in select stores and online at USPA 1890 fragrance. With the sport-lifestyle brand’s signature red, white, and blue stripe on the fragrance’s glass bottle, consumers can own a piece of the sport with USPA 1890’s 3.4 fl. oz. eau de toilette spray, or the 4-piece gift set with the 3.4 oz. eau de toilette spray, a .25 travel mini spray as well as a body spray and shower gel. These options and others, some including gifts with purchase like a USPA duffle, are the perfect holiday gifts for friends and family this season.

USPA 1890 has recently won the prestigious 2023 Beauty and Wellness Award, Fragrance for Men from POLO & Lifestyle Magazine. The Beauty and Wellness Awards celebrate and encourage the use of all varieties of skincare, beauty, and tools while spotlighting the market-leading companies that stand above their competition and provide quality products in their field. Winners were selected by a global judging panel after months of product usage and evaluation.

About USPA Global
USPA Global is the for-profit subsidiary of the USPA and manages the sport-inspired multi-billion-dollar USPA brand, providing the sport with a long-term source of revenue. USPA Global is also the parent company of Global Polo Entertainment (GPE), which broadcasts the sport globally to millions of viewers on ESPN and multiple other platforms.

Contact Information
Stacey Kovalsky,
Senior Director,
Global Communications,
skovalsky@uspagl.com
+001.561.790.8036

Kaela Drake
PR & Communications Specialist
kdrake@uspagl.com
+001.561.461.8596

Greenridge Global Initiates Equity Research on Society Pass Inc (Nasdaq: SOPA): Loyalty Wallet-Based eCommerce Ecosystem & Influencer Advertising Agency Poised For Outsized Growth In Fast Growing Southeast Asia

Greenridge Global LLC (Greenridge Global) initiates equity research coverage on Society Pass Inc. (Nasdaq: SOPA) (SoPa or the Company), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem.

Click Here (on Society Pass website) to view the full Greenridge Global Equity Research Report.

Summary Points:

• Valuation: Greenridge Global initiates coverage with a target price based on an EV/Revenue multiple of roughly 3 times 2025 Revenue estimate of $33.3 million, discounted back one year at 20%. The mix of social/influencer advertising and a loyalty-driven eCommerce ecosystem present a unique opportunity to capture this growth, and collect an abundance of data that can be monetized down the road. Greenridge Global believes the market is not fairly valuing SoPa’s assets at this time and believe listing some of its subsidiaries provides greater transparency to SoPa’s overall business model.

• SEA is Ideal Market for SoPa:  SoPa is uniquely positioned to capitalize on the young and rapidly growing digitally-connected population in SEA, which is poised to see among the highest GDP growth rates over the next handful of years, while having arguably less geopolitical risk than other countries.

• Loyalty Wallet to Drive Revenues Growth:  The Company launched its Society Points Loyalty Wallet in June 2023 and should have all of its subsidiaries linked by the end of 2023, which should boost sales across businesses, increase retention and offer unique advertising opportunities to the 3.3 million users of its companies.

• Thoughtful Media Expected to See Substantial Revenue Generation:  Thoughtful Media is in the early stages of rapid expansion, through strategic bolt-on acquisitions and opening new regional offices, all of which should result in substantial Revenue growth in the next few years.

• SEA Unbanked Population Offers Growth Potential for SoPa:  Roughly 70% of Southeast Asia’s population is unbanked or underbanked, making the payment options of the Loyalty Wallet a starting point for the Company to deliver different financial service options to its users.

• Acquisitions to Drive NusaTrip Growth:  The recent VLeisure acquisition and early rollup stages of traditional travel agencies, coupled with the mobile access Gorilla’s eSIM brings should turn NusaTrip into a holistic travel booking destination for the SEA region, which has seen rapid increases in travel post-Covid.

• Expected Capital Markets Activities in 2024 to Unlock Value:  SoPa is in the midst of listing two of its key assets, Thoughtful Media and NusaTrip, which should enhance the valuation of these assets, as well as provide for more diverse funding and M&A options.

About Greenridge Global LLC
Greenridge Global was founded in June 2012 with the aim of providing a range of institutional services to small cap and Asian-based companies who have been abandoned by traditional broker-dealers.  Greenridge’s growing team has a rich history of working in buyside, sell-side and investment banking capacities in the US and Asia, enabling it to have a broad network of investors and industry partners.  We look forward to providing a high level of value added service to our corporate and investor clients around the world. For more information on Greenridge Global, please visit: Website at https://www.greenridgeglobal.com/home.html.

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 Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 5 interconnected verticals (loyalty, digital media, travel, telecoms, and lifestyle), 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 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 3.7 million registered consumers and over 650,000 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 operatesThoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network;NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator;  Leflair.com, Vietnam’s leading lifestyle e-commerce platform;Pushkart.ph, a popular grocery delivery company in Philippines; and NextGen Retail, a Indonesia-based e-commerce platform.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass  or
Facebook at https://www.facebook.com/thesocietypass  or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contact:
Rokas Sidlauskas
Chief Marketing Officer
rokas@thesocietypass.com