A series F round headed by Asia Partners and including January Capital garnered US $80 million for ShopBack, a Singapore-based shopping and rewards network.
The firm has now raised more than 230 million US dollars overall with this most recent investment.
ShopBack, a company that Henry Chan and Joel Leong founded in 2014, enables consumers to receive cashback on both online and offline purchases. It powers US $3.5 billion in yearly sales and has more than 35 million customers across 10 countries. Additionally, it supports 1 million shopping trips every day for more than 10,000 merchant partners.
In addition, the business purchased Hoolah to offer buy now, pay later (BNPL) services and developed ShopBack Pay, a payment service, in Australia and Singapore.
ShopBack intends to use the additional cash to create new goods, increase its market share in the Asia Pacific, and strengthen public-market preparation skills.
