THE WHAT? Singapore-based shopping platform ShopBack has raised an additional US$80 million in funding in a Series F extension, according to a report by Nikkei Asia.
THE DETAILS The funding was raised by 65 Equity Partners, a wholly-owned subsidiary of state investor Temasek Holdings.
The financial injection follows ShopBack having raised US$80 million from Asia Partners in July this year, with total Series F funds amounting to US$160 million.
65 Equity Partners will now join ShopBack Group’s board of directors.
THE WHY? ShopBack is said to use the funding to launch new products, and develop growth and payment solutions for its merchant partners.
The company is also said to be set to extend its services to more markets.
Henry Chan, Co-Founder and CEO of ShopBack Group, said, “Our new partners bring a wealth of expertise and knowledge, which will be critical for the next phase of our journey.”
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Key types of injectable aesthetics include:
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Dermal Fillers: These injectables are used to add volume, fill in wrinkles and folds, and enhance facial contours. They often contain substances like hyaluronic acid, collagen, or calcium hydroxylapatite, which help plump up the skin and smooth out fine lines and wrinkles.
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Botulinum Toxin (Botox): Botulinum toxin injections temporarily relax facial muscles that cause wrinkles and lines to form. It is commonly used to treat forehead lines, frown lines between the eyebrows, and crow's feet around the eyes.
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Collagen Stimulators: These injectables stimulate the body's own collagen production, helping to improve skin texture and firmness over time. Examples include poly-L-lactic acid (Sculptra) and calcium hydroxylapatite (Radiesse).
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Neurotoxin Injections: Besides Botox, other neurotoxins such as Dysport and Xeomin are used similarly to reduce wrinkles and lines.
