Singapore-based rewards app ShopBack has raised US$45 million in its latest funding round, co-led by new investors Rakuten Capital and EV Growth. Another new investor, the Singapore government’s EDBI, and several existing backers joined in.
This brings ShopBack’s total funding to US$83 million to date.
Since the previous funding round, ShopBack has seen its business in emerging markets like Indonesia, Thailand and the Philippines take off and eclipse its efforts in more developed countries like Singapore.