The final close comes after US$30 million in equity capital via a strategic investment from Australian bank Westpac Banking Corporation. This follows an earlier announcement of ShopBack’s US$160 million Series F tranche from Asia Partners and 65 Equity Partners, among others.
“As part of the equity investment, the rewards platform has also entered into a partnership with the Australian bank that will enable Westpac’s customers to gain access to exclusive offers and deals when they shop via ShopBack,” adds the company. The funds will also be invested into launching new shopping products for users, developing growth and payments solutions for merchant partners, extending its services to more markets and building capabilities for public market readiness, adds the company.
Source: Financial Digest (financialdigest.net)
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