# ShopBack

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shopback

- Industry: Internet
- Headquarters: Singapore, Singapore
- Website: www.shopback.sg
- Total disclosed funding: $345M
- Latest round: Series F (Jan 19, 2023)
- Investors on record: 22

## About

Based in Singapore, Ecommerce Enablers Pte. Ltd. operates a cashback platform, empowering users to earn savings through online purchases from partnered brands across various sectors.Ecommerce Enablers Pte. Ltd. was founded in 2014 in Singapore and operates as a cashback and discount platform. Founded by Arvin Singh, Henry Chan, Joel Leong, Josephine Chow, and Shanru Lai, the company has raised a total of USD 189.00 mn in funding, with its most recent round being Series F on January 19, 2023, supported by investors including 65 Equity Partners, Asia Partners, January Capital, and Westpac Bank. The company currently holds a valuation of USD 920.15 mn.ShopBack operates primarily as a cashback and discount platform, enabling users to earn cashback on their online purchases from a network of over 2,000 partnered brands across multiple sectors including fashion, electronics, and travel. The core product offerings include a cashback mechanism facilitated through a browser extension, which alerts users to available cashback opportunities while shopping online. Additionally, ShopBack provides promotional codes and vouchers that customers can apply at checkout to maximize their savings. The platform aims to enhance the shopping experience by providing financial incentives and rewards, thereby addressing the consumer need for cost-effective purchasing solutions. ShopBack's services are available in Singapore, Indonesia, Malaysia, the Philippines, Thailand, Taiwan, Australia, Vietnam, Korea, Hong Kong, Germany, New Zealand, and the USA, catering to a diverse client base of online shoppers looking to capitalize on savings.In 2023, ShopBack reported a revenue of USD 85.56 mn, with an EBITDA of USD -61.49 mn. The company's revenue model relies on affiliate partnerships, earning commissions on sales generated through its platform. Customers utilize the ShopBack browser extension to receive cashback on purchases, which is credited back to their accounts as part of their purchasing transactions.In January 2023, Ecommerce Enablers Pte. Ltd. raised USD 189.00 mn in Series F funding to expand into new countries, develop additional products, and prepare for potential public market readiness. The company is focusing on enhancing its capabilities and broadening its presence in the market.

## Funding rounds

- Series F, Jan 19, 2023, $189M — Westpac Bank, Asia Partners, January Capital, 65 Equity Partners
- Series E, Oct 13, 2021, $41M — Temasek Holdings, Chung-Hwa Telecom, Indies Capital Partners, January Capital, MARSELA I LTD
- Series D, Mar 4, 2020, $30M — Temasek Holdings, SG Growth Capital, Rakuten Capital, Chung-Hwa Telecom, Enablers
- Series D, Sep 4, 2019, $47M — SG Growth Capital, Singtel Innov8, SBVA, East Ventures, AppWorks, Rakuten Capital, Qualgro, Chung-Hwa Telecom, Intouch Holdings
- Series C, Oct 2, 2017, $25M — Singtel Innov8, SBVA, East Ventures, AppWorks, Credit Saison, Aetius Capital, Qualgro, Enablers, January Capital, Intouch Holdings
- Series B, Apr 22, 2016, $10M — Singtel Innov8, SBVA, East Ventures, Accel-X Management, Qualgro, Enablers, Koru Partners, NUS Technology
- Series A, May 27, 2015, $2.1M — Singtel Innov8, East Ventures, Accel-X Management, NUS Technology
- Seed, May 30, 2014, $0.6M — East Ventures, Accel-X Management, NUS Technology

## Investors

- East Ventures (https://capitalatlas.ai/funds/east-ventures) — Seed, Series A, Series B, Series C, Series D
- Accel-X Management (https://capitalatlas.ai/funds/accel-x-management) — Seed, Series A, Series B
- NUS Technology — Seed, Series A, Series B
- Singtel Innov8 (https://capitalatlas.ai/funds/singtel-innov8) — Series A, Series B, Series C, Series D
- SBVA (https://capitalatlas.ai/funds/sbva) — Series B, Series C, Series D
- Qualgro (https://capitalatlas.ai/funds/qualgro) — Series B, Series C, Series D
- Enablers (https://capitalatlas.ai/funds/enablers) — Series B, Series C, Series D
- Koru Partners (https://capitalatlas.ai/funds/koru-partners) — Series B
- AppWorks (https://capitalatlas.ai/funds/appworks) — Series C, Series D
- Credit Saison — Series C
- Aetius Capital (https://capitalatlas.ai/funds/aetius-capital) — Series C
- January Capital (https://capitalatlas.ai/funds/january-capital) — Series C, Series E, Series F
- Intouch Holdings — Series C, Series D
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series D
- Rakuten Capital (https://capitalatlas.ai/funds/rakuten-capital) — Series D
- Chung-Hwa Telecom — Series D, Series E
- Temasek Holdings — Series D, Series E
- Indies Capital Partners (https://capitalatlas.ai/funds/indies-capital-partners) — Series E
- MARSELA I LTD — Series E
- Westpac Bank — Series F
- Asia Partners (https://capitalatlas.ai/funds/asia-partners) — Series F
- 65 Equity Partners (https://capitalatlas.ai/funds/65-equity-partners) — Series F