Receiptable, a fintech firm that innovatively bridges the data gap between banks and retailers through digital receipts, has announced its first institutional investor as part of a wider pre-seed funding round.
The round is led by HP Spring Studios, a venture fund backed by the Al Waha Fund of Funds and the global investment firm Hambro Perks. Receiptable plans to use the funds to recruit talent, build its platform, and launch with its first partner bank in Bahrain, reflecting the country’s strong economic landscape.
Receiptable is changing the way digital receipts are handled. With a focus on simplicity and innovation, Receiptable provides a seamless solution for delivering digital receipts directly to customers’ bank apps. By unlocking line-level spend data for both banks and retailers, Receiptable enables enhanced customer experiences and unlocks valuable insights for businesses.
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.”
