NUS Enterprise

In the five seconds you take to read this sentence, ShopBack would have received at least one order from its over two million users in 7 countries, who peruse the offerings from over 1,300 partners.


It is hard to imagine that this popular shopping platform – which connects online retailers and online shoppers with a mutually beneficial reward system – had its beginnings in a small NUS Enterprise office in 2014.


ShopBack was born one night when NUS Overseas Colleges alumni Henry Chan (Faculty of Engineering) and Joel Leong (Faculty of Arts and Social Sciences) were toying around with entrepreneurial ideas in a car. They then roped in tech guru Bryan Chua (School of Computing), and after a week locked up in a hotel room, the trio conceived a prototype.


Despite an initial setback when their application for government funding was rejected, ShopBack eventually secured funding amounting to over USD$1 million, led by Accel-X and East Ventures.


ShopBack has since seen phenomenal growth. Today, it has a team of over 100, and has launched in Malaysia, the Philippines, Indonesia and Taiwan, Thailand and Australia.


“NUS Enterprise started off giving us infrastructural support, such as a roof over our heads, internet access, free coffee and tea! In addition, they went on to provide us mentorship, legal and accounting assistance and exposure to relevant networks. This played a huge role in propelling our growth, allowing us to remain focused on building the core business. Moving forward, we aim to on board new merchants and provide more cash- back to our shoppers. This will help us to expand to become the smartest way to shop in the Asia Pacific region,” said Henry Chan, CEO and Co-founder ShopBack.

Categories

NUS Overseas Colleges, Entrepreneurial Education, Entrepreneurship Support



Milestones

Raised USD$1 million from Accel-X and other private investors ShopBack was officially launched in Singapore


Supported by NUS Enterprise at BLOCK71 Singapore

2014

Launched in Malaysia and the Philippines


Won Gold award, Best Start-up (Growth Stage) and Silver award, Best Innovative Infocomm Products (Consumers) at the SiTF Awards 2015, Singapore

2015

Launched in Indonesia and Taiwan


Handled their first million transactions with over SGD$500k Cashback given to consumers. Winner of the Emerging Enterprise Award, Emerging Enterprise Award 2016

2016

Announced funding of SGD34M, Henry Chan on 2017’s The Peak Power List, and 2017 Prestige Singapore 40 Under 40 list


Launched in Thailand

2017

Launched in Australia


Acquired NOC alumni company Seedly

2018