What is ShopBack?
Founded in 2014, ShopBack has established itself as a cornerstone of the Southeast Asian e-commerce landscape. By providing consumers with a unified platform for exclusive offers, vouchers, and promo codes, the company has effectively bridged the gap between merchants and digital-first shoppers. With a presence spanning Singapore, Malaysia, Taiwan, Indonesia, the Philippines, Korea, Thailand, Australia, and Vietnam, ShopBack leverages its extensive merchant network to drive consumer engagement and loyalty. The platform functions as a critical intermediary in the retail value chain, utilizing data-driven insights to optimize the shopping experience while facilitating significant transaction volumes for its retail partners.
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 Soft Bank, SingTel, 33 Capital, Qualgro, East Ventures, InVent, appWorks Ventures., and Credit Saison
Unspecified (2019): $45M supported by Rakuten Capital and EV Growth
Series B (2020): $75M featuring Cornerstone Ventures, Temasek, 33 Capital, EDBI, EV Growth, and Rakuten, Inc.
Series F (2022): $80M backed by January Capital Advisors and Asia Partners
Key Investors in ShopBack
Soft Bank
SoftBank Group Corp. is a global technology holding company driving innovation across telecommunications, internet services, and artificial intelligence through its diverse portfolio and strategic investment platforms.
Temasek
Temasek is a global investment company headquartered in Singapore that operates as a generational investor, focusing on long-term value creation and sustainable growth.
Rakuten, Inc.
Rakuten Group Inc. is a global technology conglomerate and innovation leader that operates a comprehensive digital ecosystem spanning e-commerce, fintech, and mobile network services.
What's next for ShopBack?
With the infusion of $80M, ShopBack is well-positioned to accelerate its expansion and deepen its integration within the regional fintech and e-commerce sectors. The company is expected to focus on scaling its technological infrastructure and enhancing its rewards ecosystem to maintain its competitive edge. By prioritizing agile execution and strategic partnerships, ShopBack aims to solidify its status as a dominant player in the Asia-Pacific digital market, potentially exploring further innovations in mobile payments and personalized consumer services to drive sustainable, long-term value for its stakeholders.
See full ShopBack company page
