The latest capital injection brings ShopBack’s total funding since its founding in 2014 to US$113 million. Today, ShopBack has presence in Singapore, Malaysia, Indonesia, the Philippines, Thailand, Taiwan and Australia, serving over 19 million users. ShopBack’s three research and development hubs in Singapore, Taiwan, and Vietnam house a team of over 150 engineering, data and product management talents today. Rohit Sipahimalani, joint head of the portfolio strategy and risk group at Temasek, said he expects the group to announce a couple of deals in the pipeline in the next few months. They house a team of over 150 engineering, data and product management staff. Subscribe to t.me/BizTimes. SINGAPORE - Financial services firm GoBear and cashback platform ShopBack are among 10 Singapore start-ups to watch, according to networking site LinkedIn.. Read more at straitstimes.com. The company is also backed by SoftBank Ventures Asia and counts Singapore-based Qualgro and Quest Ventures among its earlier investors. With the new funding, we will develop new features to help our users save even more money and time by making smarter buying decisions,” said. In 2019, ShopBack saw a 250 per cent year-on-year (YoY) growth in sales and orders, powered over 16 million monthly orders, and delivered more than US$2 billion worth of sales for over 2,500 merchant partners. Temasek leads ShopBack’s extended US$75m funding round.
Existing investors like Rakuten, EDBI, EV Growth, Cornerstone Ventures, and 33 Capital also participated in the round. SINGAPORE state investment firm Temasek has invested in cashback startup ShopBack, alongside some existing investors who did follow-on investments in the Singapore-based firm. Today, it serves over a million users in the market. Shopback raises US$75M led by Temasek to expand in Asia. The platform also provides coupons, … The Business Times. Since then, we have awarded more than 30 million USD to our community of shoppers and we have expanded to international markets.
It is one of the region’s pioneers in app-to-app integration and the first online rewards player to provide a seamless, native app experience to its users. ShopBack, the online coupons platform, amassed a total of US$75 million in extended funding led by Temasek. A senior executive at Temasek told BT in October last year that the state investment firm has its eye on what it calls "aspiring unicorns" in South-east Asia - companies valued between US$100 million and US$1 billion.
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Singapore rewards and discovery platform ShopBack announced today (March 12) that it has raised US$75 million in an extended funding round led by Temasek… The total deal value amounts to about US$30 million, sources told The Business Times.