- Society Pass, Vietnam’s leading data-driven loyalty platform, has closed its C Series.
- The new funds will be used to help drive mergers and acquisitions in Southeast Asia, including Vietnam, the Philippines and Indonesia.
- Since its launch, Society Pass has gathered more than 1.5 million registered users, served by more than 3,500 registered merchants and brands.
HANOI, Vietnam, September 29, 2021 – (ACN Newswire) – Society Pass (SoPa), Vietnam’s leading data-driven loyalty platform, has closed a Series C roundtable. With the new funds, Society Pass will seek to accelerate its growth and acquisition strategy in South East and South Asia, in particular by acquiring businesses with existing user and merchant bases that can be quickly connected to the Society Pass ecosystem.
Society Pass is a data marketing and loyalty ecosystem that operates multiple e-commerce and lifestyle platforms in its key markets. Its business model is focused on collecting user data via the expected dissemination of its universal loyalty points. It seamlessly connects consumers and merchants across multiple categories of products and services promoting organic loyalty. Since its launch in 2019, Society Pass has brought together more than 1.5 million registered users and more than 3,500 registered merchants and brands.
Dennis Nguyen, Founder, President and CEO of Society Pass said, “The success of Society Pass to date has been built on delivering unique value to consumers and merchants, as well as the infrastructure supporting this exchange. This new funding will allow us to replicate our success in our target markets and our aggressive M&A initiatives underway. We are very grateful to have found a strong demand from quality investors, who share our vision.
According to the Digital 2021 Global Overview Report
By HootSuite & We Are Social, Southeast Asia has an Internet penetration rate of 69% with annual growth of 9.6% and South Asia with an Internet penetration rate of 42% and growth 9.1% per year. Both regions are expected to experience tremendous growth, with Google, Bain and Temasek estimating the GGW of the Internet economy in Southeast Asia to reach $ 309 billion by 2025, while RedSeer Consulting estimates the economy of Southeast Asia. Internet in South Asia will reach $ 250 billion by 2025. Travel is expected to account for the lion’s share of this growth. Society Pass plans to expand its market presence by harnessing the untapped potential of South and Southeast Asia, believing that developing countries are only now experiencing an increase in digital adoption, with large potential for future growth.
Society Pass capitalizes on the early stages of the rapid development of the internet economy in the region, spanning verticals such as food service, beauty, travel and lifestyle.
About the Company Pass
Society Pass’s customer loyalty and analytics platform has integrated hundreds of thousands of registered consumers. Society Pass provides merchants with SoPa.asia – an e-commerce platform for users, alongside #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS – a specialized point-of-sale technology solution, a complete system for payment, loyal customer management, user profile analysis and convenient financial assistance packages for small and medium-sized businesses. All of the tools offered above will enable businesses to attract and retain customers through personalized interaction based on analytics with a high profit margin. For more information, please see: http://thesocietypass.com/.
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