Shopback

ShopBack said it has rewarded shoppers with over S$1 billion (US$781 million) in cashback globally

ShopBack posts 30% revenue growth as it expands its play-to-earn feature, and we get the scoop on increasing tensions within MoneyHero.

2025 marked ShopBack’s expansion to North America and its entry into the “play-to-earn” space. See how it plans to tackle its newest financial year.

ShopBack now lets Hong Kong users use cashback at physical stores, after previously offering online cashback since 2022.

Paradas was previously vice president of growth at Fidel API and will oversee ShopBack’s North American operations, which are based in Austin, Texas.

The Singapore-based cashback platform said users earned US$40 million in cashback.

With the MPI license, ShopBack Pay can now help merchants accept payments and support secure customer transactions.

The startup increased revenue by 13.2% while cutting losses by 36.3% through cost-reduction measures in FY2024.

The startup, which was founded in 2023 by four ex-Meta engineers, allows users to earn Max Miles through purchases from over 500 businesses.

The expansion comes a month after the Singapore-headquartered cashback and rewards platform cut 24% of its workforce.