ShopBack

Active#22 in Singapore

Estimated valuation · Cashback & rewards · Singapore

Runs a cashback, rewards and buy-now-pay-later app that earns commissions from online and offline merchants and shares them with shoppers in Asia-Pacific.

E-commerce›cashback & rewards shopback.com

Founded2014

HQSingapore

Last roundSeries F · Dec 2021

Country of originSingaporeListed in the Singapore ranking

Where would you invest?SingaporeJurisdiction as cited by the ranking

Estimated valuation

AI · Singapore ranking

≈ USD 340MUSD 170–690M · Hundreds of M$

Hundreds of k$

Millions $

Tens of M$

Hundreds of M$

Unicorn

Decacorn

Hectocorn

Anchor: Last known equity round: Series F · USD 200M · Dec 2021
AI adjustment: ÷ 3: the 2021 round was priced at the market peak, followed by job cuts and no new round

An indicative editorial estimate produced by AI, imperfect by nature: neither a financial valuation nor investment advice. Only the market sets a company’s value. Method

Uback rankings

How the AI ranks →

Ranking	Tier	Rank	Edition	Next update
Singapore · all sectors	Top 50	#22	Edition 0 · October 2026	2 Nov 2026

Rank historyOct 2026 · #22First edition: no movements yet.

Funding history

Date	Round	Amount	Type	Investors
Dec 2021	Series F	USD 200M	Equity	Asia Partners, Westpac

Rounds as cited by Uback’s rankings. Equity, debt and grants are shown separately; only equity rounds count towards the valuation anchor.

Independent analyses

By industry professionals & analysts

Industry professionals and financial analysts can publish their own analysis of ShopBack as a PDF. It must answer at least one of these four questions, and stick to them:

AI valuation: $340MUndervalued or overvalued?

Versus competitorsHow does it compare?

Who should acquire itStrategic buyers, and why

Who should it acquireAcquisition targets, and why

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Analyses are the opinion of their authors, not of Uback. They are checked before publication.

Invest

Back ShopBack whether or not it has agreed: your intention joins the pool on ShopBack, passed to the Fundraising Desk of its country once it reaches critical mass. Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale.

Back ShopBack Or back E-commerce in Singapore

Pool on ShopBackBelow threshold

BackersBelow threshold

Paid intention · valid for life · movable until you sign with a partner desk. If the company does not follow up, Uback invites its Backers to move their intentions to a competitor or a similar company. Investing in non-listed companies carries a risk of losing all the capital invested.

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What the AI reads

Read by the AI at the next edition.

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Full Singapore ranking →

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Last updated: Oct 2026Report an error

Uback is a content publisher and an aggregator of non-binding expressions of interest. It provides no investment advice, receives no mandate and takes part in no transaction. Rankings, ranges and brackets are editorial estimates produced by AI, purely indicative.