Apart from rewarding users with cashback for making online purchases, ShopBack has created many features to enhance users’ buying experiences. Its latest product, ShopBack GO, helps users discover and decide where to eat while saving them time and money. Launched in partnership with Visa and Mastercard, ShopBack GO enables users to dine out and be paid. Data insight provided by ShopBack empowers F&B operators to make better business decisions.
In 2018, ShopBack saw 250% year-on-year growth in orders and sales. The company powered over 2.5 million monthly transactions for more than 7 million users in 7 Asia Pacific countries. ShopBack also delivered close to US$1 billion sales for over 2,000 merchant partners in both the online and offline spaces.
In the same year, ShopBack entered Australia, its first market outside Asia. It also built research and development hubs in Vietnam and Taiwan, tripling its Engineering, Data, and Product Management talent pool.
ShopBack’s new round of funding will be deployed into simplifying shopping experiences, expanding data capabilities to fuel personalisation and business insights, and accelerating growth in key markets. The company remains focused on building rewards and discovery features to deliver delightful online and offline shopping experiences for consumers.
As Asia Pacific’s dominant rewards and discovery platform, ShopBack’s foray into the offline space opens new growth opportunities for the company.
ShopBack now operates across multiple online lifestyle categories including e-commerce, travel, ride hailing and food delivery. With its growing presence in the offline space, the company is well-positioned to deliver smart shopping solutions tailored to consumers’ evolving purchasing habits.
The comprehensive view of users’ digital wallet spend enables ShopBack to deliver personalised shopping experiences for its users, as well as targeted and cost-effective marketing solutions for its merchant partners.
Fast expanding against the backdrop of the thriving Southeast Asia’s internet economy, with ecommerce growing at more than 30% each year, ShopBack is on track to becoming the top one-stop rewards and discovery platform in Asia Pacific.
[1] Google-Temasek report revised their projection for Southeast Asia’s internet economy upwards by 20%, to over US$240B in 2025, to account for the higher-than-expected growth momentum seen thus far.
The ShopBack Group is Asia-Pacific’s leading shopping, rewards, and payments platform, serving over 40 million shoppers across 11 markets. In 2023, the Group expanded its offerings into Germany, signalling its entry into the European market.
Driven by the vision to be the world's most rewarding way to shop, ShopBack is dedicated to saving members money and time, while delivering delightful experiences with every purchase. The platform also enables merchants and brands to engage with their members in a cost-effective manner.
Founded in 2014, ShopBack now powers over US$4 billion in annual sales for over 20,000 online and in-store partners. Facilitating upwards of half a million transactions daily, ShopBack continues to provide value to both members and merchants through its innovative offerings. Notably, its payment solution, ShopBack Pay, offers members a convenient and rewarding payment option at checkout.
