A platform digitising receipts in retail has raised a £2.5 million seed round of funding.
Launched in 2022, Slip’s software is used by retailers to transform their receipt process and unlock a new realm of customer data and insights. The software has already been embraced by leading retailers, including JD Sports & Beyond Retro.
Slip’s technology acts as a gateway that surfaces consumer trends, boosts engagement, and provides new marketing opportunities; allowing retailers to connect with customers in fresh ways and offer loyalty benefits.
Its API can integrate with existing systems – thanks to partnerships with leading providers including Shopify, Klaviyo, Epos Now and Sitoo – with insights from customer activity fed directly into partner CRMs or marketing technology stacks.
JD Sports partnered with Slip last year to digitise receipts – using them as an acquisition channel to their brand loyalty app JD STATUS without introducing friction into the purchase process. To date, this has driven more than 25,000 app downloads and been rolled out across 400 stores.
For Beyond Retro, adopting its digital receipts process unlocked a new route to customer data and a 226% increase in newsletter sign-ups in a single month, according to Slip.
Shoppers can also download Slip’s consumer-facing app directly and use it to save receipts, handle returns, unlock brand rewards and manage warranties for purchases from partner brands.
The 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.
Founder and CEO Tash Grossman was inspired to launch Slip after a lost receipt saw her stranded in a shop, unable to return a faulty item.
“Until now, receipts have represented nothing but waste and a wasted opportunity,” said Grossman. “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.
“This investment will enable us to work with more retailers, make our products even more impactful, and prevent billions of receipts from heading to landfill.”
Slip will expand its current team of seven, starting with the appointment of Myles Dawson, former managing director of Adyen UK, as chief commercial officer.
Slip (left to right) – Myles Dawson, CCO, Tash Grossman, CEO, Eddy Herman, CTO
Mark Foster-Brown, CEO of Adjuvo, commented: “Slip has re-engineered the receipt from purely a proof of purchase into a tool that helps retailers better understand, re-engage, and reward their customers after leaving the store.
“Slip’s innovative, mobile-based technology not only gives customers a seamless experience throughout their transaction journeys, but also enables retailers to significantly improve data around customer behaviours and outcomes.
“We have been inspired by the drive and determination of Tash and the wider Slip team, and are delighted to support their next phase of expansion.”
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