The Melbourne Business Shopa Group Eyes Off the $27 Billion Cash Rewards Sector
- Personal Finance
- 02.12.2022 09:50 am
The pioneers of cashback and rewards in Australia, savings platform Shopa Group today announces the launch of its Equity Crowdfund campaign with Equitise.
Founded in 1986 by entrepreneur Simon McCord, Shopa Group is Australia’s leading savings platform for the retail and SME sector. Since its launch nearly 35 years ago, The Shopa Group business has grown to have over 160,000 customers and generates over 1.25 billion ads annually, making it one of the largest advertising content creators in the country, with an annual turnover of $10 million.
As a bootstrapped company, Shopa Group has never taken on outside capital, until now, this week it will look to external capital for the first time, raising $1.5 million with Equity Crowdfunding platform Equitise, with a wholesale and retail investor offering with investment from as little as $250 to become a co-owner in the business.
Funds from the raise will allow Shopa Group to accelerate its growth, with the aim of reaching $16.9m in revenue by FY25 at a 29% EBITDA margin.
Shopa Group offers an unmatched experience serving SMEs in Australia with a significant advantage to take a share in a market that has been overlooked by existing cashback providers.
Shopa Group is gearing up to offer consumers its new cashback rewards and prepaid deals offering under the Shopa Group umbrella, looking to scoop up market share in the $27 billion cashback industry in Australia and over $100 billion cash back industry globally, that’s anticipated to grow to $200 billion globally by 2024.
Capital raised will go towards building out the sales team to grow the cashback and SME digital services offerings, increasing marketing manpower in order to grow the user base across digital channels, as well as incremental improvements to the tech stack in order to drive a slick and modern UX.
With a strong footprint in New Zealand and a growing network in Australia, Shop Group is looking to aggressively scale its cash-back offering, using transactional data and geography mapping to help SMEs attract new customers to their business and sales funnel.
With distribution across 1,300 supermarkets and retail stores across Australia and New Zealand, Shop Group remains the number one player in savings for SMEs, with a diverse product offering with its three brands Shopa Docket, Shopa Docket Cashback and Shopa Marketing.