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Henry Chan
CEO and Co-Founder of ShopBack
Henry Chan is the CEO and Co-Founder of ShopBack, a leading shopping and rewards platform in the Asia-Pacific region. He co-founded the company in 2014 with Joel Leong, aiming to transform the shopping experience by providing cashback and rewards to users, thereby enhancing both customer engagement and merchant outreach. Under Chan's leadership, ShopBack has grown significantly, serving over 40 million shoppers across multiple markets and facilitating more than half a million transactions daily.123
Background and Education
Henry Chan studied at the National University of Singapore, where he earned a degree in Mechanical Engineering with a focus on Product Design and Technopreneurship. He also participated in the NUS Overseas Colleges program, which included a stint at the University of Pennsylvania, where he studied Technopreneurship.2
Career Path
Before founding ShopBack, Chan held various roles in e-commerce and strategic partnerships:
- Director of Strategic Partnerships at SingPost eCommerce (2013-2014)
- Regional Head of Partnerships at Zalora SEA (2013)
- Co-founder of RaveSquare (2012)
- Project Manager at Human Network Labs (2010-2012) .2
Achievements and Vision
Under Chan's guidance, ShopBack has expanded its services beyond cashback into financial solutions such as ShopBack Pay and PayLater. The platform now supports over 20,000 partners and has powered more than $4 billion in annual sales.23 Chan emphasizes a vision to create "the world's most rewarding way to shop," focusing on delivering delightful shopping experiences while ensuring sustainability for the business.5
Recent Developments
In March 2024, Henry Chan announced significant layoffs at ShopBack, affecting approximately 24% of its workforce. This decision was part of a strategic shift aimed at focusing on sustainable growth after a period of rapid expansion that had outpaced the company's operational capabilities. Chan took full responsibility for these past strategic missteps while outlining plans for a more streamlined future for the company.45
Overall, Henry Chan's entrepreneurial journey reflects his commitment to innovation in the retail sector and his adaptability in navigating challenges within the rapidly evolving e-commerce landscape.
