Society Pass founder and CEO Dennis Nguyen
Vietnamese company Society Pass, which provides a data-driven loyalty platform, today announces its establishment of regional headquarters in Singapore.
The firm emphasises its acquisition ambition to build, scale and expand its service offerings to accelerate high-growth e-commerce businesses in the region.
In November, Society Pass launched a US$26 million initial public offering (IPO) on the Nasdaq stock exchange in the US, marking the firm as the first Vietnamese startup to complete a traditional IPO on a foreign bourse.
Founded in 2018 by Nguyen, Society Pass operates seven e-commerce and lifestyle platforms across its key markets, serving both consumers and merchants in a dual-facing business model.
The company focuses on collecting user data through the regular circulation of its universal loyalty points.
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Society Pass claims to have over 1.5 million registered users and over 3,500 registered merchants and brands to date.
As an acquisition-led technology company, in September, the firm relaunched Leflair that it acquired in June this year after the luxury e-commerce brand filed for bankruptcy in 2020. Before the acquisition, Leflair generated over US$10 million in sales y-o-y and was ranked amongst the top 5 e-commerce platforms in Vietnam. The addition of Leflair complements Society Pass’s other existing businesses such as SoPa, an online ordering and loyalty platform, and #HOTTAB, a POS service provider specialising in payment infrastructure, loyalty management and joint marketing programmes for merchants.
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Image Credit: Society Pass
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