Slip, a female-founded fintech startup which helps physical stores digitise receipts to unlock customer insights, has raised £2.5 million.
The seed round was led by Adjuvo and joined by Haatch Ventures, Unbundled VC, the Side by Side Partnership, and a range of angels including ASOS’ executive vice president of customer & marketing, Dan Elton, and former CIO at Frasers and former CTO at John Lewis, Julian Burnett.
Launched in 2022, Slip’s software has already been embraced by top high street retailers, including JD Sports & Beyond Retro.
By digitising receipts, Slip’s technology acts as a gateway that surfaces consumer trends and provides new marketing opportunities.
JD Sports has used the Slip app as an acquisition channel to their brand loyalty app JD Status without introducing friction into the purchase process. To date, this Slip-powered approach has driven more than 25,000 app downloads and has been rolled-out across 400 stores.
For Beyond Retro, adopting Slip’s digital receipts process unlocked a new route to customer data and a 226% increase in newsletter sign-ups in a single month.
Slip’s API can integrate with existing systems - thanks to partnerships with the likes of Shopify, Klaviyo, Epos Now and Sitoo - with insights from customer activity fed directly into partner CRMs or marketing technology stacks.
Shoppers can also download Slip’s consumer-facing app directly where they can save receipts, handle returns, unlock brand rewards, and manage warranties for purchases from partner brands.
The company intends to use the funds to enhance the technology package and grow its team. As part of this expansion Slip has welcomed Myles Dawson, former managing director of Adyen UK, as chief commercial officer.
Tash Grossman, founder & CEO, comments: “We’re transforming the humble receipt from its static, destined-for-landfill status into a data-rich source of customer insight. The response we’ve seen from our early adopter retail partners says it all: our software drives engagement and unlocks valuable customer data. We’ve seen huge spikes in everything from email sign-ups to app downloads for the brands using our software."