Total amount raised
$355 Million
Latest funding date
12/1/2022
Location
ShopBack has successfully raised funding over 9 rounds, with the latest being a Series F. The platform offers cashback services from online stores, allowing users to earn real money back on their purchases.
Keep reading to explore the intricacies of ShopBack's fundraising journey and the investors backing this innovative platform.
What Is ShopBack?
ShopBack is an e-commerce loyalty platform based in Singapore, offering cashback services from online stores. The company operates in the e-commerce, loyalty programs, and shopping industries.
Founded in Singapore, ShopBack has grown to employ between 501 and 1000 people. The platform is currently in its Series F funding stage, reflecting its significant growth and investor interest.
How Much Funding Has ShopBack Raised?
- Seed Round
- Amount Raised: USD 600,000
- Date: March 2015
- Lead Investors: East Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial features.
- Seed Round
- Amount Raised: USD 14,400,000
- Date: January 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance user acquisition.
- Series A
- Amount Raised: USD 25,000,000
- Date: November 2017
- Lead Investors: Credit Saison
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: USD 45,000,000
- Date: April 2019
- Lead Investors: EV Growth, Rakuten Capital, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and improve technology infrastructure.
- Series B
- Amount Raised: USD 30,000,000
- Date: March 2020
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and user experience.
- Series E
- Amount Raised: USD 40,000,000
- Date: October 2021
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and market expansion.
- Series F
- Amount Raised: USD 80,000,000
- Date: June 2022
- Lead Investors: Asia Partners Fund Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance technological capabilities.
- Series F
- Amount Raised: USD 80,000,000
- Date: October 2022
- Lead Investors: 65 Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new regions and improve service offerings.
- Series F
- Amount Raised: USD 40,000,000
- Date: December 2022
- Lead Investors: Westpac
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for a potential IPO and strengthen financial position.
Total Amount Raised: USD 359,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Westpac
- Details: Westpac is a major Australian bank and financial services provider. It is one of the "big four" banks in Australia.
- Investment Focus Areas: Financial services, banking, fintech.
- Notable Investments: Zip Co, Afterpay, SocietyOne.
- 65 Equity Partners
- Details: 65 Equity Partners is an investment firm that focuses on growth capital investments. It is known for its strategic investments across various sectors.
- Investment Focus Areas: General investment across various sectors.
- Notable Investments: Not publicly disclosed.
- Asia Partners Fund Management
- Details: Asia Partners Fund Management is a private equity firm that invests in technology and technology-enabled companies in Southeast Asia.
- Investment Focus Areas: Technology, e-commerce, digital media.
- Notable Investments: RedDoorz, Carsome, Snapask.
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean investment company owned by the Government of Singapore. It manages a diversified global portfolio.
- Investment Focus Areas: Financial services, telecommunications, media, technology.
- Notable Investments: Alibaba, Gojek, Meituan-Dianping.
- Credit Saison
- Details: Credit Saison is a Japanese financial services company that offers credit card, leasing, and other financial services.
- Investment Focus Areas: Financial services, fintech, retail.
- Notable Investments: Grab, Paidy, MobiKwik.
What's Next for ShopBack?
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Therefore, it is impossible to write a storytelling section covering what's next for ShopBack based on the provided sources. To create an accurate and insightful narrative, more detailed and relevant information is required.
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