ShopBack acquires fintech startup Hoolah

Currently, ShobBack offers rewards and cashback services to consumers on properties of Alibaba Group Holding Ltd. and several other online retailers but aims to diversify its operational portfolio. 

ShopBack received financial support from Rakuten Capital to expand its influence over the Asian online shopping market, as it gains popularity among clients. It was founded in 2014 in Singapore and provides comparison features, voucher codes, and coupons to customers across the Far East and Australia regions.

According to Bloomberg, Hoolah is one of the first startups to offer Buy Now, Pay Later services in Southeast Asia, integrating three interest-free instalments for its processed goods in sectors like cosmetics, beauty, clothing retail, furniture, electronics, and IT equipment.
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