What is ShopBack? ShopBack Review

Basic Introduction

ShopBack mainly provides users with cash back services for e-commerce products through its platform, and also provides cash back for travel reservations, fashion products, beauty and health care, groceries and food delivery.

ShopBack works with over 3,000 merchants including Taobao, Expedia, Shopee, ZALORA to reward their users with cashback, which covers a wide range of categories including general merchandise, travel bookings, fashion, health and beauty, groceries and food delivery. To date, we have provided $100 million in cashback to over 20 million users.

Coverage area

The ShopBack platform has covered seven major Asia-Pacific markets including Malaysia, Singapore, Indonesia, the Philippines, Thailand, Taiwan, China, and Australia, serving a population of 19 million, and has R&D centers in Singapore, Taiwan, China, and Vietnam.

Development History

In November 2017, Southeast Asian e-commerce cashback platform ShopBack announced that it had completed a $25 million financing round. This round of financing for ShopBack was led by Japanese financial and credit card company Credit Saison, with participation from Blue Sky, AppWorks, Intouch, Aetius Capital and 33 Capital. This round of financing will be used for talent recruitment, new feature development and marketing.

ShopBack Vietnam launched a beta version in late 2019. Online shoppers in Vietnam can get up to 25% cashback from more than 150 merchants, including brands such as Lazada, Shopee, Watsons and Booking.com.

In March 2020, Singapore's e-commerce cashback platform ShopBack recently announced that it had completed a US$75 million financing round, led by Temasek, with participation from existing investors Rakuten, EDBI, EV Growth, Cornerstone Ventures, and 33 Capital. The funds from this round of financing will be used to improve the platform's technical level and market expansion.

In August 2020, Singapore's group buying platform ShopBack officially went online in Vietnam, launching its website and mobile application.

References

• 1. ShopBack completes US$75 million financing, led by Temasek: Sina Finance [cited on 2020-03-13T16:00:00.000Z]
• 2. Southeast Asian e-commerce cashback platform ShopBack completes $25 million in financing: Tencent Technology [cited on 2017-11-06T16:00:00.000Z]