ShopBack, the Rakuten-backed e-commerce loyalty platform, announced today it will acquire buy now, pay later startup Hoolah. Both companies are based in Singapore and operate in Southeast Asian markets. The deal was done in stock and cash, and terms were undisclosed.
After the merger closes, ShopBack will own all of Hoolah, but the BNPL service’s brand, app and website will continue to operate as before, ShopBack founder and chief executive officer Henry Chan told TechCrunch. The merger means new features will be added to ShopBack’s platform, evolving it from a loyalty app for e-commerce purchases to enabling transactions with BNPL options.
Other acquisitions ShopBack has made to build out its business include personal finance community Seedly and Ebates Korea. …
