Receiptable, a fintech company that creatively uses digital receipts to close the data gap between banks and retailers, is pleased to announce the addition of its first institutional investor to a larger pre-seed funding round.
Leading the round is HP Spring Studios, a venture fund supported by the international investment firm Hambro Perks as well as the Al Waha Fund of Funds. In keeping with Bahrain’s robust economic environment, Receiptable intends to utilize the money to expand its platform, hire skilled personnel, and begin operations with its first partner bank there.
The handling of digital receipts is being altered by Receiptable. Receiptable offers a seamless way to send digital receipts straight to customers’ bank apps, all while keeping things simple and innovative. Receiptable allows for improved customer experiences and provides businesses with valuable insights by granting access to line-level spend data for both banks and retailers.
Zainab Khamis, the Head of HP Spring Studios, Bahrain, expressed her enthusiasm, stating, “Our investment in Receiptable is not only exciting due to its innovative approach that is bridging the relationship between banks and retailers through digital receipts, but also because it aligns with our vision of adding substantial value to Bahrain’s fintech ecosystem. We are enthusiastic about the potential of the platform for unlocking valuable data and paving the way for enhanced service personalization. As the demand for digital solutions accelerates, Receiptable is perfectly positioned for significant growth and success within the dynamic fintech industry.”
Chris Purdie, CEO of Receiptable, marked this milestone, saying, “With the support from HP Spring Studios, Receiptable is poised to enhance the post-purchase retail experience, make our existing banking apps a daily touchpoint, and significantly reduce the billion paper receipts produced annually in Bahrain. This investment is not just a financial boost; it’s a potent catalyst for tech innovation and talent cultivation, right here in our Bahrain base. It also presents a great opportunity for us to utilise HP Spring Studio’s regional network and access to banking and fintech experts.”
