ShopBack is a Singapore-based startup that operates an online shopping rewards app. The company is backed by Temasek Holdings Pte and has been raising late-stage capital as it prepares to go public. Recently ShopBack added $80 million to its extended Series F round. The injection was described in coverage as involving Temasek’s 65 Equity Partners and Asia Partners. The round brings ShopBack’s disclosed total capital raised to more than $310 million. Public reporting frames this financing as part of the company’s continued late-stage fundraising activity. ShopBack is a Singapore-based cashback app. The company closed a $75 million extended funding round. The round was led by Temasek. The article describes Temasek as Singapore’s state investor. The financing is referred to as an extended round in the coverage. The article does not provide additional details such as other investors, financing instruments, prior rounds, founding year, or operating metrics. ShopBack is a Singapore-based cashback and consumer rewards platform serving seven Asia Pacific markets. Its core product gives consumers rebates across e-commerce, ride‑hailing, food delivery, online travel and more, and it has moved offline with a food discovery and payment service launched in Singapore. The company operates in Singapore, Malaysia, the Philippines, Thailand, Taiwan, Australia and Indonesia and maintains R&D centers in Vietnam, Singapore and Taiwan. ShopBack reported a 250% growth in sales and orders last year, translating to nearly $1 billion in sales for its merchant partners; it previously handled $400 million in 2017 and typically processes more than 2.5 million transactions for over seven million users. Its Australia business has grown rapidly—claiming about 300,000 registered Australian users and a 1,300% increase in purchases through its platform between May 2018 and March 2019. ShopBack plans to launch in Vietnam next and is hiring a general manager there; the company says Western expansion is possible but not imminent. ShopBack is a Singapore-based cash-back e-commerce service that curates deals and cashback offers from partner merchants across six Southeast Asian countries and Taiwan. Founded in 2014, it helps users earn cash back when shopping through its platform and works with roughly 1,300 partner merchants. The company reports annualized sales for its partners of over $300 million and says more than 3.5 million users have signed up, with peak volumes near 1,000 orders per hour. ShopBack is expanding geographically — targeting Australia next — and is hiring initial senior management and local teams (typically 10–15 staff per country) to support that growth. It is also investing in R&D and diversifying its product set, recently launching a ride-sharing product that lets users choose providers such as Grab, Uber or local rivals like Go-Jek. Management says it aims to help users beyond just saving money by addressing fragmented markets and imperfect information, though those initiatives are in early stages.

Total raised

$225M

Funding rounds

4

Latest round

Series F

Latest activity

Aug 2023