What is ShopBack?
Founded in 2014, ShopBack has evolved into a critical player within the Southeast Asian digital economy. The platform functions as a comprehensive shopping and rewards gateway, providing users with access to vouchers, promo codes, and cashback incentives across a vast network of merchants. Headquartered in Singapore with an extensive footprint spanning Malaysia, Taiwan, Indonesia, the Philippines, Korea, Thailand, Australia, and Vietnam, the company occupies a unique position at the intersection of e-commerce and fintech.
By integrating loyalty programs with merchant-facing digital marketing tools, ShopBack has successfully captured a significant share of the regional consumer market. Its operational model is designed to drive high-frequency engagement, positioning the firm as an essential intermediary in the modern retail landscape.
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, Credit Saison, East Ventures, InVent, SingTel, 33 Capital, Qualgro, and appWorks Ventures.
Unspecified (2019): $45M supported by Rakuten Capital and EV Growth
Series B (2020): $75M featuring EV Growth, EDBI, Rakuten, Inc., Cornerstone Ventures, Temasek, and 33 Capital
Series F (2022): $80M backed by Asia Partners and January Capital Advisors
Key Investors in ShopBack
Rakuten Capital
A global technology conglomerate and innovation leader that operates a comprehensive digital ecosystem, including e-commerce, fintech, and mobile services.
Soft Bank
A global technology holding company that drives innovation across AI, telecommunications, and internet services through strategic, long-term capital investments.
East Ventures
A prominent Southeast Asian venture capital firm focused on supporting visionary founders from seed to growth stages with a strong emphasis on ESG-driven initiatives.
What's next for ShopBack?
Looking ahead, the recent strategic investment of $80M is expected to catalyze ShopBack's next phase of development, likely focusing on deepening its fintech capabilities and expanding its regional market dominance. As the company matures, the focus will likely shift toward enhancing its data-driven personalization engines and strengthening its position within the broader digital ecosystem. The continued support from high-profile institutional backers suggests a long-term commitment to scaling the platform's infrastructure, potentially exploring new verticals in digital payments and financial services to further monetize its extensive user base.
See full ShopBack company page
