ShopBack
ShopBack is a Singapore-based cashback and rewards platform serving over 60 million consumers across 9 Asia-Pacific markets and the US, with 20,000+ merchant partners and integrated payment, subscription, and advertising products.
- Company typePrivate
- Founded2014
- HeadquartersSingapore, Singapore
- Headcount501–1,000
- GTM typeB2C
- OfferingDigital Commerce or Content
What ShopBack does
ShopBack is a Singapore-headquartered cashback and online rewards platform founded in 2014 that serves consumers across 9 Asia-Pacific markets and, since May 2025, the United States. The platform aggregates cashback offers and deals from 20,000+ merchant partners and delivers them to 55-60M+ users through a mobile app, browser extension, and integrated payment products; cumulative cashback earned by users has exceeded $650M. Core products include the cashback engine, ShopBack Pay (a payment and buy-now-pay-later capability extended through the 2021 hoolah acquisition), the ShopBack Plus subscription tier, ShopBack Play for gaming and engagement, and an in-app performance advertising offering.
The underlying platform is built on affiliate-link tracking, merchant API integrations, and behavioral data from 85M+ annual shopping trips that support offer personalization and conversion optimization. Distribution spans both online and in-store channels through QR and point-of-sale integrations, with vertical extension into food-and-beverage via the Eats365 partnership.
The business model is primarily affiliate-commission-based, with revenue tied to merchant-side referral fees on completed transactions. This is supplemented by subscription revenue from ShopBack Plus, transaction-based revenue from payments and BNPL, and performance-based advertising. The company is privately held with cumulative disclosed funding above $230M, a 501-1000 employee base, and a 2021 reported valuation of approximately $539M; revenue grew 30%+ in FY 2026 following a roughly two-year flat period.
ShopBack firmographics
Firmographics- Name
- ShopBack
- Legal name
- ShopBack
- Website
- https://shopback.sg
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- ShopBack is a Singapore-based cashback and rewards platform serving over 60 million consumers across 9 Asia-Pacific markets and the US, with 20,000+ merchant partners and integrated payment, subscription, and advertising products.
- Ownership category
- akta.pro rank
ShopBack industry classification
Industry- Product category
- Cashback & Rewards Platform
- NAICS
- General Merchandise Retailers (455), Retail Trade (44-45)
- SIC
- Retail-Variety Stores (5331)
- akta.pro primary industry
- Price Comparison, Deals, Cashback & Loyalty Shopping Platforms (BPAMAGAH)
- akta.pro secondary industries
- In-App / Online Checkout Wallets (FSAMAEAH), Marketplace & Platform Seller Payouts (FSAMAKAE)
Keywords
Where ShopBack is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices2 records
Markets served
ShopBack business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure
Revenue model
- Affiliate / merchant commission (Cashback): Core revenue stream: ShopBack earns commissions from 20,000+ merchant partners when users shop via ShopBack; a portion is passed back to users as Cashback. Driven by 85M+ annual shopping trips and over $650M in cashback earned to date.
- ShopBack Plus subscription: Paid membership tier that unlocks boosted Cashback rates (e.g., Booking.com 6% vs 5.5% standard, Klook 26% vs 25%, Pelago 7.5% vs 7%) across participating merchants.
- ShopBack Pay / BNPL transactions: Transaction-fee revenue from ShopBack Pay BNPL service (formerly hoolah); being wound down in Malaysia from 25 March 2026 with resources redirected to other areas of the platform.
- Performance-based advertising / rewarded engagement: Integration of rewarded engagement units (e.g., via Adjoe Playtime) generating cost-per-install / cost-per-engagement revenue shared with ShopBack as publisher.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Standard free Cashback user |
| Subscription | Monthly | ShopBack Plus paid subscription |
| Other | Pay-as-you-go | ShopBack Pay / BNPL payment tier (in select markets) |
Go-to-market motion4 records
Distribution channels5 records
Marketing channels5 records
ShopBack product offering
Product offeringCore offering
ShopBack operates an online cashback and rewards platform that aggregates 20,000+ merchant partners and pays users a portion of the affiliate commissions earned on their online purchases as real-money cashback, delivered through web storefronts, iOS/Android apps, and a Chrome browser extension. The platform also offers a paid ShopBack Plus subscription with boosted rates, ShopBack Pay / PayLater (BNPL) payment services, and ShopBack Play mobile gaming rewards.
Differentiator
Problem solved
Functional benefit
Brands
- ShopBack Pay: ShopBack's in-app and in-store payment service integrated with merchant checkouts, including Octopus integration in Hong Kong. Discontinued in Malaysia from 25 March 2026.
- ShopBack Play
- ShopBack Plus
- ShopBack PayLater
Products and services
- ShopBack Cashback Platform Online cashback platform that aggregates merchant offers and pays users a portion of affiliate commissions as real-money cashback, available across web storefronts, iOS/Android apps, and a Chrome browser extension. Built for individual online shoppers who want automated, real-money rewards on purchases across retail, travel, and lifestyle merchants.
- ShopBack Plus
- ShopBack Pay / ShopBack PayLater Payment and Buy Now Pay Later (BNPL) service that lets users transact at participating merchants and earn cashback at checkout, with native Octopus integration in Hong Kong supporting in-store cashback at 500+ outlets.
- ShopBack Play Non-transactional mobile gaming rewards feature inside the ShopBack app that lets users earn cashback by playing in-app games, supplementing the core purchase-based cashback offering.
- AI Beauty Tool AI-powered skincare and beauty product discovery tool surfaced on the ShopBack platform that helps users find products available with cashback at partner merchants such as iShopChangi.
Quantifiable outcome
- Over 30% revenue growth in FY 2026, a turnaround after two years of flat growth.
- +3 more outcomes
Companies that use ShopBack
Customer profileNamed customers29 records
Segments5 records
Ideal customer profiles4 records
ShopBack technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature6 records
ShopBack partnerships and signals
Strategic signalScale indicators17 records
Recent moves7 records
Expansion highlights5 records
ShopBack competitors and assessment
Company assessmentDirect peers
- Honey (PayPal): Honey is a browser-based coupon and cashback extension owned by PayPal with tens of millions of users. Its in-session activation model, affiliate revenue model, and merchant partnerships make it a direct competitor, particularly in ShopBack's newly entered US market.
- RetailMeNot: RetailMeNot is a long-standing deals, coupons, and cashback platform with a similar merchant-commission revenue model and broad consumer reach in the US. It is one of ShopBack's most comparable North American counterparts.
- Rakuten: Rakuten operates one of the largest global cashback and loyalty programs (Rakuten Cash Back, formerly Ebates), with a directly comparable affiliate-commission business model spanning the US, Japan, and other markets. Rakuten is also a ShopBack investor, making it both competitor and stakeholder.
- BeFrugal: BeFrugal is a US-focused cashback and coupon site operating on an affiliate-commission revenue model similar to ShopBack. It targets the same price-sensitive online shopper persona with a comparable merchant breadth.
- TopCashback: TopCashback is a pure-play cashback aggregator with a similar merchant-commission revenue model, browser extension, and global footprint (US, UK, and other markets). It is one of the closest direct competitors to ShopBack's core offering.
- Capital One Shopping (formerly Wikibuy): Capital One Shopping is a browser extension and shopping assistant offering price comparison, coupons, and rewards credits. Owned by Capital One, it directly competes with ShopBack on US consumer wallets with strong distribution leverage.
- Swagbucks: Swagbucks (operated by Prodege) is a rewards platform combining cashback, surveys, gaming, and shopping rewards — directly comparable to ShopBack Play and broader engagement monetization. Its diversified reward inventory mirrors ShopBack's multi-vertical strategy.
Regional players
- Cashrewards: Cashrewards is Australia's leading cashback platform, with a near-identical affiliate-commission business model targeting Australian online shoppers. It is a directly relevant regional peer given ShopBack's Australian market presence.
- GoPaisa: GoPaisa is one of India's leading cashback and coupon platforms operating on an affiliate-commission model. It is comparable to ShopBack as a regional cashback aggregator serving a large, price-sensitive consumer base.
Broad incumbents
- GoPoynt (Coupons.com parent, Quotient Technology): Coupons.com (Quotient Technology) is a broad digital-coupon and cashback incumbent with deep retailer relationships and a household-name brand. It is comparable to ShopBack as a wider-portfolio player in the same shopping-rewards space, though it spans more traditional printable coupons.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
ShopBack social profiles
Digital presenceShopBack financial estimates
Financial estimateRevenue estimate
Valuation estimate
ShopBack leadership team
Management profileNumber of profiles
Profiles9 records
ShopBack subsidiaries and ownership
Company hierarchySubsidiaries1 record
ShopBack funding detail
Funding detailFunding overview
Funding rounds9 records
Investors23 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ShopBack M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ShopBack
What does ShopBack do?
ShopBack operates an online cashback and rewards platform that aggregates 20,000+ merchant partners and pays users a portion of the affiliate commissions earned on their online purchases as real-money cashback, delivered through web storefronts, iOS/Android apps, and a Chrome browser extension. The platform also offers a paid ShopBack Plus subscription with boosted rates, ShopBack Pay / PayLater (BNPL) payment services, and ShopBack Play mobile gaming rewards.
Is ShopBack a public or private company?
ShopBack is a private company. It is classified as venture growth investor backed and is currently operating.
When was ShopBack founded?
ShopBack was founded in 2014. It employs 501 to 1,000 people.
Where is ShopBack based?
ShopBack is headquartered in Singapore, Singapore, in the Asia region.
How does ShopBack make money?
Four revenue lines are on record. Affiliate / merchant commission (Cashback) is the primary driver. The others are shopBack Plus subscription, shopBack Pay / BNPL transactions and performance-based advertising / rewarded engagement.
Who are ShopBack's main competitors?
Direct peers on record are Honey (PayPal), RetailMeNot, Rakuten, BeFrugal, TopCashback, Capital One Shopping (formerly Wikibuy) and Swagbucks. Regional players are Cashrewards and GoPaisa. GoPoynt (Coupons.com parent, Quotient Technology) is listed as a broad incumbent.
Does ShopBack have an API?
No public API is recorded for ShopBack.
What industry is ShopBack in?
ShopBack's product category is Cashback & Rewards Platform. Its primary akta.pro industry code is BPAMAGAH, Price Comparison, Deals, Cashback & Loyalty Shopping Platforms, with a secondary code of FSAMAEAH, In-App / Online Checkout Wallets. Its NAICS code is 455 and its SIC code is 5331.