Slip, a trailblazing fintech startup founded by women, has successfully raised £2.5 million in seed funding to further its mission of digitizing receipts for physical stores. This innovative approach unlocks valuable customer insights and drives engagement.
Leading the Charge in Retail Innovation
The funding round was led by Adjuvo and included investments from Haatch Ventures, Unbundled VC, and the Side by Side Partnership. Prominent angels like ASOS’ Executive Vice President of Customer & Marketing, Dan Elton, and former CIO at Frasers and former CTO at John Lewis, Julian Burnett, also participated.
Launched in 2022, Slip’s software has quickly gained traction with high street retailers such as JD Sports and Beyond Retro. By transforming traditional paper receipts into digital formats, Slip’s technology provides a gateway to consumer trends and new marketing opportunities.
Boosting Retail Engagement
JD Sports has utilized the Slip app as an acquisition channel for their loyalty app, JD Status, without disrupting the purchase process. This seamless integration has driven over 25,000 app downloads and been implemented across 400 stores.
For Beyond Retro, Slip’s digital receipts process has provided a new avenue for gathering customer data, leading to a staggering 226% increase in newsletter sign-ups in just one month.
Seamless Integration and Enhanced Customer Experience
Slip’s API integrates effortlessly with existing systems, thanks to partnerships with Shopify, Klaviyo, Epos Now, and Sitoo. Insights from customer activity are fed directly into partner CRMs or marketing technology stacks.
Consumers can also download Slip’s app, where they can save receipts, handle returns, unlock brand rewards, and manage warranties from partner brands, enhancing their shopping experience.
A Promising Future
With the new funds, Slip plans to enhance its technology package and expand its team. In a strategic move, the company has welcomed Myles Dawson, former Managing Director of Adyen UK, as Chief Commercial Officer.
Tash Grossman, Founder & CEO of Slip, emphasizes the company’s vision: “We’re transforming the humble receipt from its static, destined-for-landfill status into a data-rich source of customer insight. The response from our early adopter retail partners speaks volumes: our software drives engagement and unlocks valuable customer data. We’ve seen significant spikes in everything from email sign-ups to app downloads for the brands using our software.”
Discover how Slip is set to revolutionize retail insights and drive customer engagement on FinQfy.
