ShopBack - The Smarter Way to Shop

We've all used a rewards program at some point and some of you may be using ShopBack also. You may have come across it when shopping...

We've all used a rewards program at some point and some of you may be using ShopBack also. You may have come across it when shopping online at Lazada, ZALORA, Shopee, Food Panda, Agoda, Booking.com and many more. Last year, 2018, ShopBack grew by 900% on the number of users and also traffic up to 10 times in the last quarter. 

The growth wasn't just in the Philippines, In 7 Asia Pacific countries, ShopBack powered over 2.5M monthly transactions for more than 7M users delivering close to US$1B sales over 2,000 plus partner merchants both in online and offline spaces.

One exciting news is that ShopBack has raised US$45M in its latest funding round. Participants are co-led by EV Growth and Rakuten Capital, as well as EDBI, the corporate investment arm of Singapore’s Economic Development Board. The new capital injection brings the company’s total funding to US$83M.

“The fresh funding adds firepower to our innovative efforts centered on simplifying shopping experiences for users while building smarter marketing solutions for merchant partners. We’re now better equipped to not only deliver cost-efficient sales to our merchant partners, but also to leverage user insights across categories to do cross-selling efficiently,” said Prashant Kala, Country Head of ShopBack Philippines.

ShopBack is cashing in on the region’s growth by linking online merchants to the most engaged mobile internet users in the world. Apart from rewarding users with cashback for making online purchases, ShopBack also helps merchants make better business decisions with data insights powered by ShopBack’s growing user base. 

Just to give others an idea on what ShopBack is, it is a one-stop rewards and discovery platform that helps users make smarter shopping decisions. When customers purchase a product or engage in a service, uers save time and money. The ShopBack platform also serves as an inspiration for their next dream vacation and gadget picks, this enables brands and other partners to reach millions of engaged users across 7 countries in the Asia Pacific. 
So what will they do with the new funding?
Well, part of it will be deployed in simplifying shopping experiences, expanding data capabilities for personalization and business insights and also accelerate growth in key markets. Still focused on building rewards and discovery features to enhance both online and offline shopping experiences for consumers across the Asia Pacific.

ShopBack now powers purchase decisions across multiple lifestyle categories in the online space, including e-commerce, online 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 purchase habits—both online and offline.

The comprehensive view of users’ digital wallet spend across multiple markets, platforms and categories enables ShopBack to deliver personalized shopping experiences for its users, as well as targeted and cost-effective marketing solutions for its merchant partners.

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