Nasdaq-Listed SOPA Platform Backed by Wallet Factory Exceeded $1B Market Cap

Society Pass Incorporated (“SoPa”) went public on the NASDAQ under the ticker “SOPA” beginning November 9, 2021. SoPa is the first Vietnam-based company to complete a traditional IPO on a stock market outside of Vietnam.

The number of shares offered to the public accounts of almost 2,9 million, with the total pricing announced to be $26 million as indicated at Nasdaq.com. The share price of SoPa’s common stock was initially listed at a price of $9.00 per share. As of today, the stock has gone over the market cap of $1 billion and is currently trading at $48.30 per share.

“As a software vendor, Wallet Factory helped us build the unique SoPa platform to ensure facilitation of e-commerce transactions between our consumers and our merchants in Southeast Asia,” said Dennis Nguyen, the Founder, Chairman, and CEO of Social Pass Incorporated. “Our marketing platform empowers small and medium enterprises to benefit from e-commerce opportunities across Southeast Asia, driving job-creation and economic growth in some of the world’s most dynamic markets.”

Wallet Factory is excited to be a partner of SoPa and deliver a FinTech solution that adds business value and drives compliance success.

“Crafting a reliable FinTech solution enabling customers with loyalty experiences is a challenge for any software provider,” said Mikhail Miroshnichenko, Co-Founder and CEO at Wallet Factory. “Wallet Factory has succeeded in bringing in the best e-commerce platform possible that exceeds the expectations of B2B and B2C customers in the region.”

Originating in Vietnam, SoPa plans to expand its brand presence throughout Southeast Asia post IPO by providing comprehensive region-wide services like POS and e-commerce solutions, scalable payment infrastructure, customer profile analytics, loyalty management, and custom SME financing packages.

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