Australia's Slyp has experienced a significant show of confidence from the country's big four banks, who have joined a further $25 million funding round in the digital receipt startup.
Founded by former PayPal executives Paul Weingarth and Spiro Rokos, alongside former ANZ group data officer Mike Boyd, Slyp's technology automatically links a smart digital receipt to a customers bank card and displays this inside the banking app.
NBA is the first bank to integrate with Slyp, which has signed up than 880 stores and venues across Australia. Slyp is working on integrations with CBA, Westpac and ANZ and plans to introduce a new product that will allow customers to link their loyalty cards to their payment cards.
Weingarth says Slyp is on track to make smart receipts available to half of all Australians by the end of this year.
“The funds raised will be invested directly into our unique technology that enables Slyp to deliver the most seamless, intuitive, and sustainable proof of purchase in the world, while building new products to improve the entire purchase experience," he says. “This year, we will be laser-focused on expanding our presence within the in-store retail and hospitality ecosystem, working closely with Australia’s retail network and leading banks to switch off the paper receipt and transform the customer checkout experience, for good.”
Alongside Australia's leading banks, the oversubscribed Series A welcomed new investors such as advisory and investment firm Sayers Group.