What is ShopBack?
Founded in 2014, ShopBack operates as a prominent shopping and rewards platform across the Asia-Pacific region. With a presence in multiple countries including Singapore, Malaysia, Taiwan, Indonesia, Philippines, Korea, Thailand, Australia, and Vietnam, ShopBack provides consumers with access to exclusive offers, vouchers, and promo codes from a wide array of merchants. The platform aims to enhance the online shopping experience by integrating rewards and savings directly into the consumer journey, positioning itself as a key player in the digital commerce 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 Credit Saison, Soft Bank, InVent, 33 Capital, appWorks Ventures., East Ventures, Qualgro, and SingTel
Unspecified (2019): $45M supported by Rakuten Capital and EV Growth
Series B (2020): $75M featuring 33 Capital, EV Growth, EDBI, Rakuten, Inc., Cornerstone Ventures, and Temasek
Series F (2022): $80M backed by Asia Partners and January Capital Advisors
Key Investors in ShopBack
Asia Partners
Asia Partners is a Singapore-based growth equity investment firm focused on supporting tech entrepreneurs in Southeast Asia. They aim to foster the next generation of tech giants in the region and are actively involved in identifying and investing in emerging tech opportunities.
Rakuten Capital
Rakuten Group Inc. is a global technology conglomerate and innovation company operating a comprehensive digital ecosystem across Internet Services, FinTech, Mobile, Communications, and Digital Content, serving approximately 1.9 billion members worldwide.
EV Growth
EV Growth is an investment firm that focuses on supporting the growth of technology companies, particularly within the Southeast Asian market. They are known for backing promising startups and helping them scale their operations.
What's next for ShopBack?
The substantial enterprise-level funding indicates ShopBack is poised for significant scaling and strategic expansion. This capital infusion will likely be directed towards enhancing its technological infrastructure, broadening its merchant partnerships, and potentially entering new geographic markets. Continued investment suggests a focus on solidifying its market leadership and exploring innovative ways to deepen customer engagement and loyalty in the dynamic Asia-Pacific e-commerce landscape. The company's trajectory points towards further consolidation and potential diversification of its service offerings.
See full ShopBack company page
