ShopBack Thailand launches with 100 merchants
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Cash-rebate service ShopBack Thailand has launched with more than 100 merchants on board.
Merchants include online travel booking websites Booking.com and Expedia, beauty platform Sephora, e-commerce giant Lazada, as well as ride-hailing services Grab and Uber. Consumers can expect to receive up to 30 per cent in cash back when the new service.
“Online shopping in Thailand isn’t a trend, it’s part of the everyday retail culture,” says ShopBack Thailand co-founder/country head Kawin Prachanukul. “We’re discovering ways to connect merchants and shoppers in a way that creates added value for both parties.”
Thailand is the sixth market for Singapore-based ShopBack, founded two years ago. As well as Singapore it is active in Indonesia, Malaysia, Taiwan and the Philippines. It has received more than US$1 million in funding from Accel-X and East Ventures.
ShopBack claims to have more than three million users. Merchants on the platform receive more than $20.3 million in sales each month, and to date the service has paid more than $10 million in cash back to its customers.
In Thailand, ShopBack faces competition from homegrown player Dealcha!, backed by Thai seed-funding specialist 500 TukTuks.
Questions & Answers
Q.What kind of businesses are partnered with ShopBack Thailand at launch?
What kind of businesses are partnered with ShopBack Thailand at launch?
ShopBack Thailand has launched with over 100 merchants. These include online travel booking sites like Booking.com and Expedia, beauty platform Sephora, e-commerce giant Lazada, and ride-hailing services Grab and Uber.
Q.How much funding has ShopBack received and from which investors?
How much funding has ShopBack received and from which investors?
ShopBack has received more than US$1 million in funding. This investment has come from two specific funding entities, Accel-X and East Ventures, supporting its operations and expansion.
Q.Which other countries does ShopBack operate in, besides Thailand?
Which other countries does ShopBack operate in, besides Thailand?
ShopBack is active in several other markets. These include Singapore, where it is based, as well as Indonesia, Malaysia, Taiwan, and the Philippines, making Thailand its sixth market.
Q.Does ShopBack Thailand have local competitors in the market?
Does ShopBack Thailand have local competitors in the market?
Yes, ShopBack Thailand faces competition from a local player. Dealcha!, a homegrown service, is backed by the Thai seed-funding specialist 500 TukTuks.
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