ShopBack

Scale changes the questions leaders need to answer. At ShopBack, that next chapter is being shaped by leaders who know growth is not just about moving faster, but about thinking better. In The Business Times, our Chief Product Officer Justin Lee and Co-founder & Head of Expansion Josephine Chow share how peer learning through IMDA’s Singapore Digital Leadership Accelerator has helped sharpen how they lead — broadening mental models and sharpening strategic judgment through candid, peer-level dialogue. As ShopBack expands into new markets and new categories, leadership development stops being a personal investment and starts being part of how the business scales with discipline. Enduring growth is not just built on execution. It is built on the quality of thinking behind it.

ShopBack has been named to Fast Company’s 2026 World’s Most Innovative Companies list in the Finance & Personal Finance category, a clear recognition of the company’s broader innovation journey. What began in APAC as a rewards business built on real consumer value is now showing it can resonate well beyond the region. ShopBack’s expansion into the U.S. is an important proof point. It reflects the strength of a model designed around relevance, utility, and everyday spending habits, and shows how that model can scale across markets. That is what makes this recognition especially meaningful. It speaks not only to the company’s progress, but also to the broader relevance of an approach that is proving itself across regions. We remain focused on building rewarding experiences that are intuitive, useful, and genuinely relevant to everyday life.

In 2025, ShopBack drove US$5.5 billion in sales to merchants across 13 markets. We also stepped into the United States, our largest and most competitive market to date. That scale was not driven by expansion alone. It was built on consistently creating measurable value for both members and merchants. Our model is performance-based. Members earn real rewards across shopping, travel, dining, entertainment, and play. Merchants invest with clarity, and pay for verified sales and accountable outcomes. When incentives are aligned and impact is measurable, trust builds. Over time, that trust compounds into sustained engagement. As ShopBack evolved from a shopping platform into a broader rewards ecosystem embedded in everyday life, our ambition grew while our operating discipline remained intact. The same performance economics now operate across more markets and more moments of consumer life. Sustainable growth is not accidental. It is earned through consistent value creation, across cycles and geographies.

We welcome Ms. Ee Rong Chong and Mr. Dan Neary as Directors of the ShopBack Group. Ee Rong brings deep board and operating experience across public and private organisations, with a strong focus on governance, incentives, and organisational effectiveness. She was previously Group Managing Director of Ogilvy Singapore, and currently serves on the boards of HMI Medical and Jollibee Group. In addition to her role as Director, she will also serve as the Chair of ShopBack’s Organisational Development and Compensation Committee. Dan brings decades of experience scaling global technology platforms at the intersection of product, growth, and monetisation. Most recently, he served as VP, Asia Pacific at Meta, with prior leadership roles at Skype and eBay. With Ee Rong and Dan’s guidance, we will continue building towards public-ready governance, scaling our platform, and bringing ShopBack to the global arena.

Great consumer businesses are not built on hype. They are built on habits. In a recent conversation with EO Studio, ShopBack’s co-founders Henry Chan and Joel Leong shared how ShopBack was built by staying close to one simple truth. People want to spend smarter, be rewarded in real terms, and they return when that value proves consistent. From early iterations that failed to scale, to making Cashback rewards a daily habit across Asia-Pacific, to navigating moments where trust mattered more than growth — this story is one of consistency. A model that works because users return, merchants see value, and growth compounds organically. That same discipline now underpins ShopBack’s expansion beyond Asia-Pacific, into Europe and the United States. This marks the first interview from EO Studio as it expands into Asia, spotlighting founders and companies shaping what comes next from the region. The full ShopBack story is in the comments.

S$1 billion in Cashback awarded. More than a milestone, it's proof that a performance-driven commerce model can scale across markets and hold up under scrutiny. Cashback only works when value flows in the right directions : • Consumers receive tangible savings • Partners pay only when real transactions happen • The platform is accountable for accuracy, speed, and trust. S$1B didn’t happen because capital was cheap. It happened because the economics worked — repeatedly, across categories and markets. This milestone (recently covered by The Business Times) reflects what sustainable growth looks like when incentives are aligned : https://lnkd.in/gMn8H3vg

ShopBack's GM of East Asia Cluster, Arthur Wan, sat down with Business Next Media Corp. 巨思媒體集團 to share how ShopBack is expanding beyond shopping rewards into more everyday moments — beginning with ShopBack Play. Mobile gaming has become a natural part of daily life for many. People play in short, fragmented moments during commutes, while waiting in line, or between activities. Noting this, we launched ShopBack Play to turn casual gameplay into a more rewarding experience. With ShopBack Play, users no longer need to wait for a purchase to earn rewards. By completing in-game milestones, they can earn Cashback that carries over into their everyday spending — making entertainment both fun and practical. The impact has been clear in Taiwan. Since launch, monthly returning users and customer lifetime value have grown, and total Cashback issued through ShopBack Play has surpassed NT$90 million. It’s a strong example of how we're building a more connected rewards ecosystem, one that fits naturally into daily habits, not just checkout moments. Full article : https://lnkd.in/g7u7X5wz

#ICYMI : our CPO Justin Lee spoke with Tech Collective Southeast Asia about the next chapter of Southeast Asia’s digital economy, and what a more disciplined approach means for the region. After years of rapid expansion, platforms are shifting focus : from user acquisition to retention, from incentives to economics, and from growth at all costs to growth with resilience. Ecosystems are becoming more connected, consumer habits more deliberate, and opportunities more closely tied to long-term value. At ShopBack, this shift aligns with how we’ve always built : sustainable, reward-driven products that users return to again and again. A worthwhile read for anyone thinking long-term in Southeast Asia’s tech landscape : https://lnkd.in/ghBu6QzP

We talk a lot about creating rewarding experiences. But what makes these experiences truly meaningful is the people you build them with. From new market launches and product features to deepening our AI fluency and integrating it across our teams and services, 2025 was shaped by every ShopBacker who gave it their all and made it count. There was no better way to close the year than by doing what we do best : coming together, and turning time well spent into something even #morerewarding. Here’s to starting 2026 strong! And of course, making every day more rewarding for our users, our partners, and each other.

ShopBack Singapore and Malaysia have teamed up with Singapore Tourism Board to make every trip across the Causeway more rewarding 🙌 For Malaysian travellers, it’s no longer just about Cashback. It’s about making smarter choices, stretching each ringgit, and getting more out of each journey. From hotels and attractions to tours and experiences, ShopBack now brings exclusive rewards, perks, and giveaways to help turn every plan into something more. Smarter travel. Better value. And of course, more reasons to jalan with ShopBack. "Syok Jalan, Syok Lagi Cashback", the holiday tagline practically writes itself 😉 We're proud to partner with STB to help more Malaysians unlock the full value of a trip to Singapore. Full article here : https://lnkd.in/gcKTin_D