e.pop, a smart receipt fintech with a presence in the Middle East, has secured $1.6 million in seed funding.
To date, e.pop has raised more than $2 million in capital. The start-up will use the funding to fuel operational expansion, enrich data aggregation mechanisms and advance customer behaviour analytics for merchant solutions.
The New York City-based fintech start-up has developed a two-sided platform connecting consumers and retail merchants via a smart digital receipt. e.pop aspires to transform the payment ecosystem for merchants and consumers and eliminate paper receipts waste. Its ecosystem delivers merchants and partners vital insights into consumer behaviour and new channels for engaging with and marketing to new shoppers.
Co-founder and CEO of e.pop., Sunay Shah, said: “I am delighted to complete our seed raise, particularly given the challenges and uncertainty in economic conditions globally. With this round, we are delighted to fuel the 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 driving 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 the 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.”
e.pop’s solution flags the items consumers are spending money on while also providing a targeted channel to reach them, ensuring the customer identity is protected.
“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 personalised customer journey. It’s a win-win for everyone involved in the shopping journey including our planet,” said Mr Shah.