Hanoi, Vietnam – The data-driven loyalty platform in Vietnam, Society Pass (SoPa), has announced that it has closed a Series C funding round, which will help in accelerating its growth and acquisition strategy in the SEA and SA region.
Society Pass is a loyalty and data marketing ecosystem that operates multiple e-commerce and lifestyle platforms across its key markets. Its business model focuses on collecting user data through the expected circulation of its universal loyalty points.
Society Pass plans to expand its market presence by harnessing the untapped potential of SEA and SA, regions which according to the Digital 2021 Global Overview Report by HootSuite and We Are Social stand to see tremendous growth. SoPa believes that developing countries are only now experiencing a surge in digital adoption, with large potentials for future growth.
Moreover, the said funding aims to acquire companies with existing user and merchant bases that can be quickly plugged into the Society Pass ecosystem.
Dennis Nguyen, the founder, chairman, and chief executive officer at Society Pass, shared that the platform’s success up to this point has been built through offering unique value for both consumers and merchants, along with the infrastructure supporting that exchange.
“This new funding will allow us to replicate our success in our target markets and our ongoing aggressive M&A initiatives in the pipeline. We are very grateful to have found strong demand from quality investors that share our vision,” said Nguyen.