Slyp, formerly Ping Data, raised $2 million in the round led by NAB Ventures and Westpac’s venture capital arm Reinventure.
Slyp’s technology digitises the receipt experience by capturing an itemised receipt data from point of sale software and delivering an interactive receipt to the customers mobile and banking apps.
Slyp co-founder Paul Weingarth said that the technology removes the need to keep hard copies of receipts and aligns with an eco-conscious world.
“Customers are asking for better ways to receive and manage their receipts for a variety of use cases like returns, tax and expense claims.
“Via Slyp, the ‘smart receipt’ is delivered instantly post-purchase, improving the retail experience while also building a unified data exchange network between merchants, banks and their customers,” he said.
Mr Weingarth said it the technology would add value across the ecosystem, particularly benefiting brick and mortar retailers.
“The smart receipt will open up a new channel to help the retailers reconnect with their customer post purchase, turning the end of a transaction into the start of a customer relationship,” he said.
NAB Ventures managing director Todd Forest said it made sense in a digital world to go paperless and was excited to roll it out to NAB customers.
“We see great upside in this solution from both a retail customer point of view, but also for small business customers, particularly for reducing the administration burden around taxation requirements,” he said.
Reinventure’s managing director Danny Gilligan said connectivity of data across sectors was important and Slyp has found a way to connect industries and enhance customer experiences.
“We are thrilled to be on the journey with the team at Slyp and excited by the opportunities that lay ahead,” he said.
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).