What is ShopBack?
Founded in 2014, ShopBack operates as a prominent shopping and rewards platform across the Asia-Pacific region, with a significant presence in countries including Singapore, Malaysia, Taiwan, Indonesia, Philippines, Korea, Thailand, Australia, and Vietnam. The platform provides consumers with access to exclusive offers, vouchers, and promo codes from a wide array of merchants, enhancing the online shopping experience. ShopBack's business model focuses on driving customer loyalty and merchant sales through its integrated digital ecosystem.
How much funding has ShopBack raised?
ShopBack has raised a total of $225.6M across 5 funding rounds:
Other Financing Round
$600K
Series A
$25M
Unspecified
$45M
Series B
$75M
Series F
$80M
Other Financing Round (2015): $600K with participation from East Ventures
Series A (2017): $25M led by Qualgro, 33 Capital, Soft Bank, Credit Saison, SingTel, appWorks Ventures., East Ventures, and InVent
Unspecified (2019): $45M supported by Rakuten Capital and EV Growth
Series B (2020): $75M featuring Cornerstone Ventures, Temasek, Rakuten, Inc., 33 Capital, EV Growth, and EDBI
Series F (2022): $80M backed by Asia Partners and January Capital Advisors
Key Investors in ShopBack
Temasek
Temasek is a global investment company headquartered in Singapore, founded in 1974. As a generational investor, it seeks to make a difference with a long-term perspective, focusing on sustainable growth and impact.
Rakuten, Inc.
Rakuten, Inc. is a global technology conglomerate based in Tokyo, Japan, operating a diverse ecosystem of over 70 businesses including e-commerce, FinTech, and mobile services, aiming to empower consumers and businesses worldwide.
Asia Partners
Asia Partners is a Singapore-based growth equity investment firm dedicated to supporting tech entrepreneurs in Southeast Asia, with a focus on scaling regional tech giants through strategic capital and expertise.
What's next for ShopBack?
With substantial backing, ShopBack is strategically positioned for accelerated growth and market penetration. The recent major strategic investment signals confidence from investors in the company's trajectory and its ability to innovate within the rapidly evolving e-commerce landscape. Future initiatives are likely to focus on expanding its service offerings, enhancing user engagement through personalized rewards, and potentially exploring new geographic markets. The company's ongoing development aims to solidify its leadership in the region's digital commerce and loyalty sector.
See full ShopBack company page
