Online rewards platform developer ShopBack added $30m on to a Rakuten-backed round that will support the strengthening of its technology.
ShopBack, the Singapore-based operator of a retail loyalty and rewards platform, completed a $75m funding round today featuring e-commerce firm Rakuten.
Singaporean government-owned investment firm Temasek led the round, which included another state-owned investor, EDBI, as well as EV Growth – the VC firm co-founded by corporates Yahoo Japan and Sinar Mas – in addition to Cornerstone Ventures and 33 Capital.
The $45m first tranche was closed in April 2019 and was co-led by EV Growth and Rakuten subsidiary…
