ShopBack‘s growth efforts across Asia Pacific received a boost after it bagged another $30 million to formally close its Series F founding round.

The recent investment for ShopBack Group, which runs a shopping and rewards platform across Asia Pacific, came from Australia’s Westpac Banking Corporation.

ShopBack closed series F round with a total of $200 million. Earlier, the Singapore-based group also announced earning at least $160 million from the series F tranche from Asia Partners and Temasek-owned 65 Equity Partners, together with commitments from other new and existing investors.

The availability of more funds will boost ShopBack’s efforts to grow across the Asia Pacific as it gears up for the public markets. Shopback said it will use the fresh capital to launch new shopping products for users, develop growth and payments solutions for merchant partners, extend its services to more markets, and build capabilities for public market readiness.

As part of the equity investment, the Singapore-based group will enable Westpac customers to access exclusive offers and deals when they shop via ShopBack.

“With more customers choosing to shop online, we’ll also be exploring new ways to expand on this offering within Westpac’s digital channels,” said Steve Rubenstein, MD (Consumer Finance) at Westpac.

Founded in 2014, ShopBack offers shopping deals, rewards and payment methods at the users’ fingertips. Since its inception, the group claims to have already served over 35 million shoppers across ten markets as they also powered over $3.5 billion in annual sales for over 10,000 online and in-store merchant partners.

Early this year, ShopBack also launched ShopBack Pay and PayLater. In addition, the group has already made significant advances in product innovation and regional expansion this year. In January, ShopBack Pay was launched to allow two million users in Singapore and Australia to check out conveniently at more than 5,000 merchant outlets.

In August, it also launched its cashback service in Hong Kong. Last December, ShopBack also acquired hoolah, a leading buy-now-pay-later player in Southeast Asia.

This year has been a year like no other, yet amidst the challenging climate, BoardRoom Singapore, a leader in the corporate services space has thrived. Guiding their clients through this unprecedented year with solutions founded on innovation and technology.

The team demonstrated a level of resilience and collaboration that led to them achieving multiple milestones and securing the Team of the Year award in the Business Services category of the Singapore Business Review Management Excellence Awards 2020.

Read the full article; “BoardRoom Singapore takes home Team of the Year award in the Business Services category” on Singapore Business Review’s website.

Group CEO, Kim Teo, shares more about the future of BoardRoom and our success in this interview with Singapore Business Review.

The winners of the annual HR Vendors of the Year (VOTY) Awards 2021, Singapore, were announced at a special recognition event held from 30 November to 3 December 2021 at Shangri-La Hotel.

The HR VOTY Awards 2021 not only celebrates the exceptional contribution that HR solution providers across the region have contributed in disrupting the HR function and innovating business performances, but it also recognises the region’s best providers of HR solutions in the areas of recruitment, employee benefits, training and development, outsourcing, and HR tech.

BoardRoom Singapore is honoured to be awarded the Best Payroll Outsourcing Partner (Silver) in the HR VOTY Awards 2021, Singapore.

BoardRoom is Asia-Pacific’s leader in Corporate and Advisory Services including Regional Employee Plan Services, Regional Payroll Services, Corporate Secretarial Services, Share Registry Services, Accounting and Taxation Services, Payroll Outsourcing, and Human Resource Outsourcing.

For over 50 years, we have supported companies in navigating through complex operational and regulatory policies and cultural sensibilities. We are well-positioned in Asia-Pacific with offices in Singapore, Australia, China, Hong Kong, and Malaysia, as well as an extensive partner network throughout Asia.

BoardRoom is the partner of choice for many Fortune 500 multinational companies, public listed and privately owned enterprises.