Nearpay Raises $14M in Series “A” Round Led by Sanabil Investments With Participation From stc CIF & Vision Ventures to Redefine the Future of Payments

RIYADH, Dec 12, 2023 – (ACN Newswire) – Nearpay, the cutting-edge Saudi fintech startup specializing in payments infrastructure as a service, announced today the successful closure of a $14 million Series A funding round led by Sanabil Investments, a wholly owned company by the Public Investment Fund (“PIF”). This investment round, which includes stc’s Corporate Investment Fund (CIF), Vision Ventures, Hala Ventures and Arzan Ventures, marks a pivotal moment for Nearpay as it continues to redefine the landscape of payments.

Founded in 2020 by Mohamed Aleban and Hamza AlFarhan, Nearpay has swiftly emerged as a pioneer in the fintech sector, offering businesses a revolutionary payments infrastructure with a focus on POS and SoftPOS technology. Nearpay, a pioneer in Tap on Phone/SoftPos technology in the MENA region, has developed its infrastructure from ground up. This innovative solution simplifies accepting payments on any device including phones, tablets, kiosks and handheld devices easier than ever, offering a seamless and secure experience for both merchants and consumers.

The Series A funding round will empower Nearpay to accelerate its mission of transforming how businesses handle payments. The $14 million funding round will be instrumental in supporting the company’s global expansion plans, advancing technological capabilities, and solidifying Nearpay’s commitment to driving excellence in payments infrastructure with a focus on card present payments.

“Our vision for redefining payments has not only been validated but supercharged with this investment. The road ahead is thrilling, filled with opportunities as we use this momentum to effortlessly revolutionize mobile transactions, creating seamless experiences for businesses and consumers,” said Mohamed Aleban, Co-Founder & CEO of Nearpay.

Sanabil Investments spokesperson commented, “We are excited to back NearPay in its journey to enable seamless POS transactions and boost local and regional digital payment evolution. NearPay successfully emerged as a preferred provider for SoftPOS solutions, solving key pain points for its partners and business users. We look forward to supporting the company realize its full potential through its next phase of growth.”

Nearpay’s SoftPOS transforms every device with NFC (near field communication) into a secure payment terminal, eliminating the need for extra hardware. This not only streamlines payments but also slashes costs for businesses, presenting an irresistible solution across diverse industries.

As Nearpay continues to disrupt the fintech space, the Series A funding round reinforces the company’s position as a key player in shaping the future of payments.

For media inquiries or further information, please contact:

Abdulaziz AlShammari A.alshammari@nearpay.io

About Nearpay:

Nearpay, founded in 2020 by Mohamed Aleban and Hamzah Alghamdi, is a Saudi-based fintech startup specializing in payment infrastructure as a service. The company’s innovative Tap on Phone/SoftPOS technology simplifies touchless payments, offering businesses a secure and seamless solution for accepting transactions. For more information, please visit www.nearpay.io

About Sanabil:

Sanabil is a financial investment company, wholly owned by the Public Investment Fund (PIF), that commits more than USD 3 billion in capital per annum into global private investments that include VC/Growth. Sanabil is a dynamic, nimble, and highly experienced team of investment professionals. Sanabil provides partners with patient capital, the ability to invest across multiple funding rounds, and access to the region. At Sanabil, we invest in great ideas, great minds, and great companies.

About CIF by stc:

In 2023, the stc Institutional Investment Fund “CIF” was established to invest in startups across nine advanced technology domains, including cybersecurity, artificial intelligence, digital gaming, the Internet of Things, blockchain, and other promising fields. The fund focuses on identifying and investing in startups in their initial stages, particularly technical innovation and feasibility.

Contact Information
Abdulaziz AlShammari
Marketing Advisor
a.alshammari@nearpay.io

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

DUBAI, UAE, Nov 22, 2023 – (ACN Newswire) – 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 verification

As 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 PwC

At 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 Verofax

Verofax 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

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

NEW YORK, Nov 2, 2023 – (ACN Newswire) – 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 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; 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

Verofax Wins at Emirates Global Aluminum Ramp-Up Programme 2023

ABU DHABI, UAE, Nov 2, 2023 – (ACN Newswire) – Verofax, an award-winning product validation and traceability solution provider, is thrilled to announce its selection as one of the top three winners of the Emirates Global Aluminum (EGA) Ramp-Up Programme. The programme attracted over 600 startups from around the globe, all vying for a chance to make a significant impact in the industry.

About the EGA Ramp-Up Programme

Emirates Global Aluminum, the largest industrial company in the United Arab Emirates outside of oil and gas, initiated the EGA Ramp-Up Programme to nurture the next generation of entrepreneurs. These businesses are expected to contribute to economic growth and job creation, particularly in the realm of low-emission commodity exports.

The programme, supported by C3, consisted of a three-month series of customized workshops focusing on business and impact for 20 finalist startups. These workshops were aligned with EGA’s strategic objectives of promoting growth and sustainability.

Verofax’s Unique Contribution

Verofax’s commodity validation and traceability solution empowers exporters to automate compliance and streamline border clearance at customs in regulated markets. This is particularly crucial given the European Union’s recent introduction of Carbon Border Tax regulations, which impose tariffs of up to 35% on non-compliant exporters of high-emission commodities like steel and aluminum.

Wassim Merheby, CEO of Verofax, said, “We are very excited to have won the EGA challenge for Growth and Impact. This win underscores EGA’s commitment to low-emission commodity manufacturing. We are thrilled to promote regional exports from the Middle East with our seamless validation and traceability solutions. The EU imports of targeted high-emission commodities amount to over $80 billion, mostly catered today by China and Russia. The new regulations open doors for near-shore exporting countries like the UAE and Saudi Arabia to benefit and increase exports.”

A Commitment to Sustainability and Growth

Abdulnasser bin Kalban, Chief Executive Officer of EGA, said, “Our goal with EGA Ramp-Up is to contribute further to the UAE’s economic diversification and development by supporting innovative young entrepreneurs to launch their impact-driven and sustainability-focused businesses. We hope our support will enable these companies to thrive and that some may even become EGA suppliers, further increasing our local procurement and supporting ‘Make it in the Emirates’ and achieving the UAE’s Operation 300bn industrial growth strategy.”

As part of the Entrepreneurial Nation strategy, EGA Ramp-Up supports achieving the Centennial 2071 goal of increasing entrepreneurship in the UAE.

“These startups represent some of the most promising talent in the UAE, and C3 is thrilled to have partnered with EGA to equip them with the tools needed to accelerate their businesses. Through our tailored mentorship programme, we have nurtured their growth trajectory, enabling them to create lasting impact,” said Kevin Holliday, Managing Director of C3 – Companies Creating Change.

About EGA

EGA is a global leader in aluminum production, with operations in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine and associated export facilities in the Republic of Guinea. EGA is committed to reaching net-zero greenhouse gas emissions from its operations and supply chain by 2050. Visit http://www.ega.ae/en/ramp-up.

About Verofax

Verofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding four patents on 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

Society Pass Inc (Nasdaq: SOPA) Awarded the 2023 APEA Fast Enterprise Award for E-Commerce Category

SINGAPORE, Nov 1, 2023 – (ACN Newswire) – Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next-generation, data-driven, loyalty, fintech and e-commerce ecosystem, announces that it received the Enterprise Asia’s 2023 “Fast Enterprise Award for E-Commerce” award. The Asia Pacific Enterprise Awards (APEA) ceremony was held on 05 October 2023 at the Log Hotel in Ho Chi Minh City, Vietnam.

SoPa CFO, Tan Yee Siong, accepting Fast Enterprise Award for E-Commerce

Through the prestigious APEA programme, Enterprise Asia recognizes entrepreneurial excellence throughout the Asia Pacific region. APEA aims to band leading entrepreneurs and organizations across Asia to spur greater innovation, fair practices and growth in entrepreneurship, creating a successful entrepreneurial ecosystem which will then shape Asia to sustainable economic and social growth. APEA honors business leaders and organizations who have shown outstanding performance and tenacity in developing successful businesses, whilst not neglecting the social responsibilities that come with leadership.

Tan Yee Siong, Chief Financial Officer of SoPa, comments, “We are very proud to receive this Fast Enterprise Award for the e-commerce category from Enterprise Asia. It is a reflection and recognition of the effort and hard work that our teams across the ecosystem deliver daily. We significantly invest into recruitment, training and implementing best practices across our operations. The benefits are already reflected in the growth of our company, but it is especially rewarding to be recognized for those efforts by APEA. We continue to deliver and hope to be nominated again across other categories in the years to come.”

Kevin Vong, Executive Director of Enterprise Asia, said, “APEA’s goal is to recognize enterprises and business leaders who have shown outstanding track records, perseverance and growth. It is our great pleasure to congratulate Society Pass Incorporated for being selected as the winner under the e-Commerce Industry of the prestigious Asia Pacific Enterprise Awards (APEA) 2023.”

About Enterprise Asia

Enterprise Asia is a leading non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. For more information on Enterprise Asia, please visit: https://www.enterpriseasia.org/.

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 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 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 3.6 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 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; 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; and NextGen Retail, a Indonesia-based e-commerce platform.

Cautionary Note Concerning Forward-Looking Statements

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

Verofax wins GITEX Supernova Web3 & Blockchain Award 2023

DUBAI, Nov 1, 2023 – (ACN Newswire) – Verofax, an innovator in Brand & Retail solutions, was selected among 521 startups globally as the best solution offering for Web3 & Blockchain, at the GITEX 2023 Expo, Supernova Challenge in Dubai.

Verofax, a UAE-based startup and service provider for turning shopping & products interactive, has emerged as the winner of the 2023 Supernova Challenge at Expand North Star Dubai, the world’s largest startup event. The startup received the prize after rounds of pitching against global finalists.

Verofax’s groundbreaking solution combines interactive Product IDs with cutting-edge product recognition, enabled by advanced computer vision. This innovation has empowered consumers to:

Discover & Validate: Check before you buy product properties, ensuring complete transparency in terms of price, quality, and sustainability.
Engage Intimately: Through augmented reality, experience custom interactions that redefine brand loyalty.
Reap Rewards: Earn meticulously curated, personalized discounts anchored in individual purchase histories and preferences.

Verofax is on a mission to strengthen the bond between consumers and brands. This direct connection, established at the moment of purchase, accentuates trust and fosters unprecedented loyalty.

Wassim Merheby, CEO of Verofax, conveyed his gratitude, “We are profoundly honored by this recognition from the GITEX committee. It further fuels our mission – ‘Never trust, always verofax.’ As we look to the future, our resolve is only strengthened to bring forth innovations that redefine the consumer landscape.”

The Supernova Challenge is the biggest pitch competition in the Middle East, Africa and South Asia . The challenge is a key feature of Expand North Star Dubai, which hosted its biggest edition this year. It attracted over 1800+ startups from over 100 countries to explore the emerging opportunities in Dubai’s dynamic, diverse and tech-driven digital economy.

One of the judges at Supernova, Sharif El-Badawi, CEO of Dubai Future District Fund, commented, “The pitches we witnessed here at the Supernova Challenge are brimming with promise, unique innovations, and inspiring ideas.”

The Supernova Challenge Pitch Competition, a highlight of GITEX Global, in partnership with the Dubai Future District Fund, is the largest pitch competition in the Middle East, Africa, and South Asia. Startups vie for top honors in a range of categories, aspiring to become the next unicorn in the tech world.

Overall, thirteen category winners representing the USA, India, UAE, South Korea, France, UK, Nigeria, Switzerland, China and Bangladesh took home prize money:

Blockchain and Web3 Disruptor: Verofax from the UAE, a platform enabling real-time immersive shopper experiences instore and product quality validation.

Sustainability and ESG Disruptor: Zenerate from the USA, a platform providing AI-powered feasibility solutions for real estate development.

AI Disruptor: Knorish, a platform that enables hobbyists, professionals and niche experts to build, launch, market and sell online courses powered by their own knowledge and as an extension of their own brand.

Fintech and E-commerce Disruptor: Appro Technologies from the UAE, a digital platform simplifying retail banking onboarding.

Mobility and Smart Cities Disruptor: Innocel from France, a company providing clean energy solutions for a net zero future.

Healthtech and Wellness Disruptor: Skia from Korea, a digital surgery guide solution using augmented reality (AR) technology.

Martech Disruptor: Smartzer from the UK is a SaaS platform brands use to make live streams and videos interactive and shoppable to drive sales.

Female Founder Award: Matis from Switzerland, a platform empowering art market stakeholders with accessible and quantifiable tools for art authentication.

Africa Fast Award: Gifty from Nigeria, an app that helps people easily share gift lists with family and friends and avoid duplicating purchases.

Asia Fast Award: Urtopia from China, a company dedicated to revolutionizing urban transportation with its smart, sleek, and stealthy e-bikes.

India Fast Award: EyeROV from India, a marine robotics company providing underwater ROVs (remotely operated vehicles) to various industries.

Insurtech Disruptor: InsureCow from Bangladesh, a platform offering a 360° technology-powered cattle insurance and wellbeing monitoring solution.

MENA Award: Jalebi.io from the UAE is the world’s first restaurant operating system that helps restaurants save 5% on the cost of every order served.

The Supernova Challenge featured 40 finalist startups selected from the Expand North Star global roadshow, a series of international pitch competitions held by the Dubai World Trade Centre and DCDE to attract startups to Dubai and foster collaborations with digital ecosystems in various countries.

Expand North Star hosted by Dubai Chamber of Digital Economy (DCDE) is the powerhouse startup show of GITEX Global, organized by the Dubai World Trade Centre (DWTC) concluded this week marking its largest-ever edition at its new Dubai Harbour venue.

About Verofax

Verofax is a blockchain-enabled Brand and Retail solution provider with a presence across North America, Europe, Asia and MEA regions. Verofax’ solution is available across multiple cloud environments, helping Brands and retailers turn products connected for meaningful engagements with customers in store.

For technical matters, visit Verofax at https://www.verofax.com or contact info@verofax.com.

REDEX Group raises $10M Series A funding led by Aramco Ventures

SINGAPORE, Oct 31, 2023 – (ACN Newswire) – REDEX, Asia’s leading Renewable Energy Certificates (RECs) solutions provider, announced today the successful completion of a USD 10 million Series A funding round.

REDEX’s mission is to accelerate the world’s transition towards renewable energy. The new funding will allow the company to expand beyond Asia, and to further innovate in streamlining and digitizing the issuance and trading of RECs.

Aramco Ventures led the investment, along with notable new investors from the Middle East, Southeast Asia, and Japan. Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and petrochemical enterprise.

“REDEX is well positioned as the leading marketplace for I-RECs, which will enable renewable energy markets in many parts of the world. We look forward to collaborating with the REDEX team to extend this capability into new geographies,” said Bruce Niven, Executive MD, Strategic Venturing at Aramco Ventures.

Established in 2018, REDEX Group is a first-mover RECs player in Asia, offering a full suite of RECs management solutions covering asset registration, verification, trading, and retirement.

“We are witnessing tremendous growth in the adoption of RECs by brand owners striving to be 100% renewable, both for themselves and their supply chains,” said Jen-Wee Kang, Founder and CEO of REDEX. “The demand for green energy is very real, and the number of RECs issued and retired is more than doubling year on year. Building on the trust we have established with key players in the ecosystem, REDEX is well-positioned to play a leading role in the exponential growth of RECs adoption globally.”

As a concept, RECs are very simple – the instrument traces one’s power consumption to renewable energy sources. Its simplicity is precisely why the instrument is the most convenient and practical way for companies to achieve Scope 2 neutrality.

RECs are endorsed and adopted by RE100, the main consortium of leading brand owners committed to 100% renewable electricity. The consortium was originally formed in 2014 by 13 corporate partners. Today, RE100 has more than 400 members who consume around 400 TWh of power.

REDEX believes there is great potential to apply RECs creatively in the industrial sector, like for green aluminium, steel, and cement – commodities that are covered in the starting phase of Europe’s Carbon Border Adjustment Mechanism (CBAM).

In April, the company announced that it was the first API-integrated Platform Operator Account on I-REC, the world’s largest RECs registry. In June, REDEX also announced its partnership with China Southern Grid, supporting the grid operator in its role as an I-REC Issuer in China.

About REDEX Group Pte Ltd

REDEX Group Pte Ltd operates Asia’s leading trading platform for Renewable Energy Certificates (RECs). The company offers a one-stop ecosystem for RECs, supporting clients through the full RECs lifecycle – asset registration, production verification, marketplace, and retirement. As an early mover in Asia with a proven track record, REDEX is developing practical and innovative solutions to meet the clean energy needs of corporates globally. The company’s mission is to accelerate the world’s transition towards renewable energy.

For more information, please visit https://redex.eco/

About Aramco Ventures

Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and petrochemical enterprise. Headquartered in Dhahran with offices in North America, Europe and Asia, Aramco Ventures strategic venturing programs invest globally in start-up and high growth companies with technologies of strategic importance to its parent, Aramco, primarily supporting the company’s operational decarbonization, new lower-carbon fuels businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company’s disruptive technologies investment program.

For more information, please visit www.aramcoventures.com

Media Contact:
enquiry@redex.eco

Society Pass Inc (Nasdaq: SOPA) / Thoughtful Media Group Inc Ventures into Concert Sponsoring in Indonesia; Developing an Innovative Revenue Stream and Creating Unique Marketing Opportunities for Advertisers

JAKARTA, Oct 24, 2023 – (ACN Newswire) – Thoughtful Media Group Inc (“Thoughtful Media” or “TMG”), the Thailand-based social commerce-focused, premium digital advertising network of Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it will commence sponsoring local live music events in SEA, resulting in creating unique marketing opportunities for advertisers.

Expected to launch its first concert in 4Q 2023 in Jakarta, Indonesia, TMG-sponsored concerts will focus on the local musicians with a tag line of “Lemburan”, which translates as “over-time”, aiming to create a distinctive space and time for music fans to gather and to enjoy the nostalgia of their favourite musicians. Streaming these concerts via TMG-affiliated social media channels, advertisers have the opportunity to collaborate with TMG-connected influencers in promoting these popular music events and reaching to their desired audiences.

Ilhamka Nizam, TMG Indonesia Country Head, explains, “Indonesians love music, and it comes as no surprise that TMG found an innovative way to tap into that expanding market segment. Across these live events, TMG aims to reach over 2.5 million over the course of the next year which will create significant sponsorship opportunities for advertisers and our 10,000-member influencer community here in Indonesia. We are planning to host 1 concert each month and is projected to earn $680K annually, and each year we are planning to host 1 big festival that is outside the monthly concerts we will be hosting. I am confident that over 2024, the Group will expand these initiatives across the rest of the TMG markets in Southeast Asia, significantly increasing the revenues for the Group”.

About Thoughtful Media Group Inc.

Founded in 2010, Thoughtful Media Group is the leading digital advertising platform in SEA. Through our network of more than 10,000 talented creators across multiple industries in Thailand, Vietnam, Indonesia and Philippines, we help brands maximise marketing budgets and achieve business objectives through some of the most innovative marketing campaigns in the region.

In July 2022, Society Pass (Nasdaq: SOPA), the next generation acquisition-focused fintech and e-commerce ecosystem in SEA, acquired TMG. Since then, TMG has fully evolved into a digital-first and fully integrated advertising powerhouse, servicing creators and advertisers in SEA.

For more information on TMG, please visit:
Website at www.thoughtfulmedia.com or
LinkedIn at https://www.linkedin.com/company/thoughtful-media-group-inc or
Instagram at https://www.instagram.com/thoughtfulmedia/ or
Facebook at https://www.facebook.com/thoughtfulmediaasia or
Twitter at https://twitter.com/ThoughtfulMedia.

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

SoPa 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 3.6 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 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; 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; and NextGen Retail, a Indonesia-based e-commerce platform.

Cautionary Note Concerning Forward-Looking Statements

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

Society Pass Inc (Nasdaq: SOPA) / Thoughtful Media Group Inc Launches 1st Ever MediaGram to Build Indonesia Online Fitness Community

BANGKOK, Oct 17, 2023 – (ACN Newswire) – Thoughtful Media Group Inc (“Thoughtful Media” or “TMG”), the Thailand-based social commerce-focused, premium digital advertising network of Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces a launch of first ever MediaGram, entitled “Sit Up”, in partnership with Indonesian superstar actor and producer, Chicco Jerihko, to develop online fitness centric community promoting health focused lifestyle in Indonesia. TMG expects new revenue models with fitness clubs and clothing retailers to emerge as result of this partnership.

“MediaGram” is an Instagram page used as a media platform to build communities in collaboration with individuals and/or companies. TMG Group aims to launch 3 Mediagram partnerships per quarter for the rest of 2023 and in 2024 across SEA to continuously develop innovative advertising channels promoting brands and services.

A household name in Indonesian entertainment landscape, Chicco Jerihko’s popularity derives from acting in and producing movies, TV shows and web series. Chicco has previously been nominated for and awarded prestigious awards for his roles in cinema, including Best Actor and Best Film by Festival Film Indonesia. Due to his on-screen success, Chicco Jeihko has amassed over 3+ million followers on social media. Chicco Jerihko comments, “Since 2003, I have been building these healthy habits to meet career demands and personal priorities. I am thrilled to share these habits and best practices with the wider online community and collaborating with renowned digital advertising firm, Thoughtful Media, on this endeavour”.

Kriangkrai Chaimongkol, TMG Chief Executive Officer, explains, “MediaGram is a direct result of our innovative methodology of growing the SEA digital creator economy and we are proud to present our first collaboration with Chicco Jerihko. We strongly believe that collaboration between TMG and SEA celebrities will have a significant positive impact on the regional social media market. We expect this ground-breaking platform to chart a fresh path for local celebrities to engage with and develop bigger audiences for our brands to market to. As we expand this exciting business to other parts of SEA in 2023 and 2024, and with innovative revenue models just emerging, we project our high margin, MediaGram revenues to contribute over 20% of Group revenues in 2024. TMG continues to create value-added services for our strategic celebrity partners, brands and the wider SEA creator community”.

About Thoughtful Media Group Inc.

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

SoPa 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 3.6 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 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; 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; and NextGen Retail, a Indonesia-based e-commerce platform.

Cautionary Note Concerning Forward-Looking Statements

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

Society Pass Inc (Nasdaq: SOPA) Announces Equity Line of up to $40 Million to Invest into Operating Subsidiaries Projected to Go Public in 2024

NEW YORK, Oct 12, 2023 – (ACN Newswire) – Society Pass Inc. (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, announced that it entered into a structured financing agreement for an equity line of credit with Strattners FZCO (“Strattners”) to efficiently access capital.

SoPa shall have the right, but not the obligation, to sell to Strattners up to $40,000,000 of SoPa’s common stock at SoPa’s request over the next 36 months, subject to certain limitations. For instance, the amount that may be sold under the agreement will be subject to Instruction I.B.6 to Form S-3, which is referred to as the “baby shelf rules”. When the Company’s public float is less than $75,000,000, it may not sell more than the equivalent of one-third of its public float during any twelve consecutive months pursuant to the baby shelf rules. The shares of the Company’s common stock will be issued at a 6% discount to the lowest volume-weighted average price during the three trading days following the date of the Company’s request.

Raynauld Liang, CEO of SoPa, explained, “By raising this capital from Strattners, without paying large commissions and fees, we will generate shareholder value by efficiently deploying such capital into our operating subsidiaries, such as our spinout candidates, Thoughtful Media Group Inc and NusaTrip Inc.” Mr. Liang continued, “This financing strategy also allows us to opportunistically invest in acquisitions as well as bolster our working capital and shall be used judiciously when market conditions for our common stock are favorable.”

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

SoPa 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 3.6 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 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; 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; and NextGen Retail, a Indonesia-based e-commerce platform.

About Thoughtful Media Group Inc.

In July 2022, Society Pass (Nasdaq: SOPA), the next generation acquisition-focused fintech and e-commerce ecosystem in SEA, acquired Thoughtful Media Group Inc. Since then, TMG has fully evolved into a digital-first and fully integrated advertising powerhouse, servicing creators and advertisers in SEA.

About NusaTrip

Founded in 2013, NusaTrip is a Jakarta, Indonesia-based, IATA-licensed online travel agency that serves both local and global customers and partners by optimizing cutting-edge technology and providing 24/7 customer-centric support team-as-a-service. With its first mover advantage, NusaTrip has onboarded +1.2 million registered users, +500 airlines and +650,000 hotels around the world as well as connected with over 80 million unique visitors.

NusaTrip is now an integral member of Society Pass (Nasdaq: SoPa) ecosystem.

For more information on NusaTrip, please visit:
Website at https://www.nusatrip.com.
LinkedIn at https://www.linkedin.com/company/nusatrip/ or
Instagram at https://www.instagram.com/nusatrip/ or
Facebook at https://www.facebook.com/nusatrip.travel or
Twitter at https://twitter.com/nusatrip.

Cautionary Note Concerning Forward-Looking Statements

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