Australian fintech, Slyp has successfully completed a $25 million Series A fundraising, supported by new investors – advisory and investments firm Sayers Group, alongside backing from existing major bank investors.

Off the back of the raise, additional products and features will be expedited with Slyp announcing payment linked loyalty on the roadmap for 2022.

The raise follows a year of significant growth for Slyp which launched the Smart Receipt in late 2020. More than 880 stores and venues are now using the technology, including Chemist Warehouse, Mitre 10, JD Sports, Harris Farm and Hunter St Hospitality and Pacific Concepts, with a total of 1.2 million Smart Receipts sent straight to a customer’s NAB app or via SMS over the past 12 months.

The funds will accelerate Slyp on its mission to drastically reduce Australia’s pointless consumption of paper receipts by ramping up product innovation and delivering customer centric products, developed in partnership with banking, point of sale and retail partners. 

Slyp’s momentum has been accelerated by strategic partnerships with key Australian companies including investment from all four major Australian banks. NAB was the first to make Slyp’s technology available to customers, and further integrations are currently underway with other major and regional Australian banks, as well as Buy Now Pay Later providers.

“We’re delighted to officially announce our Series A. Thanks to the growing and unwavering support of our investors and partners, Slyp is on track to make Smart Receipts available to half of all Australians by the end of this year,” Slyp CEO and co-founder, Paul Weingarth said.

“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. 

“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.”