ShopBack, a cashback startup in Asia Pacific, raises $45M from Rakuten and others

ShopBack, a Singapore-based startup that offers cashback and consumer rewards in Asia Pacific, has closed a $45 million round led by new investors Rakuten Capital and EV Growth. Founded in 2014, the startup had been relatively under-the-radar until late 2017 when it announced a $25 million investment that funded expansion into Australia among other things. […]


10 Apr, 2019TECHCRUNCH.COM

BEAM - ShopBack, a cashback startup in Asia Pacific, raises $45M from Rakuten and others | BEAM

ShopBack, a Singapore-based startup that offers cashback and consumer rewards in Asia Pacific, has closed a $45 million round led by new investors Rakuten Capital and EV Growth.

Founded in 2014, the startup had been relatively under-the-radar until late 2017 when it announced a $25 million investment that funded expansion into Australia among other things. Now, it is doubling down with this deal which sees participation from another new backer, EDBI, the corporate investment arm of Singapore’s Economic Development Board. Shopback has now raised close to $85 million from investors, which also include Credit Saison Blue Sky, AppWorks, SoftBank Ventures Korea, Singtel Innov8 and Qualgro....

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