e.pop, a smart receipt FinTech with a mission to transform the payment ecosystem for merchants and consumers, has snared $1.6m in seed financing.
e.pop claims it is seeking to transform the payment ecosystem for merchants and consumers as well as eliminate paper receipts waste.
The start-up has an office in London and a presence in the Middle East, and has developed a two-sided platform connecting consumers and retail merchants via a smart digital receipt.
The e.pop ecosystem delivers merchants and partners uniquely granular insights into consumer behavior as well as new channels by which to engage, advertise and market to existing and new shoppers.
For consumers, the e.pop solution provides greater control and security over the use of personal contact data and a single mobile app to receive receipts, discounts, return notifications and track spending across accounts.
e.pop CEO and co-founder Sunay Shah said, “I am delighted to complete our seed raise, particularly given challenges and uncertainty in economic conditions globally. With this round, we are delighted to fuel development of our ecosystem, partner with marquee retail brands, SMEs, carbon initiatives within corporate and government sectors and payment technology leaders. New capital enables us to achieve this by expanding our talented team of 10 and drive new users in key markets.
“With mainstream advancements in digital banking and payments and intensified focus on consumer data privacy and security, there is not only tremendous potential to enhance retail analytics but an impetus to improve both the consumer experience and merchant intelligence. Additionally, the effectiveness of digital advertising across all channels will continue to be negatively impacted due to heightened privacy policies and a lack of visibility into consumer activity and habits.
“Today’s consumers shouldn’t have to sacrifice privacy with merchants in order to have a relevant, stellar user experience in the form of tailored discounts and a personalized customer journey. It’s a win-win for everyone involved in the shopping journey including our planet.”
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