e.pop Surpasses $2 Million in Funding with Seed Round to Transform Retail
Latest round brings total capital raised to over $2 million. Funding will fuel operational expansion and hiring, enrich data aggregation and customer behavior analytics for merchant solution as well as facilitate further payment integrations.
NEW YORK–(BUSINESS WIRE)–#RedoReceipts–e.pop, a smart receipt fintech with a mission to transform the payment ecosystem for merchants and consumers and eliminate paper receipts waste, today announces $1.6 million in seed funding. To date, e.pop has raised more than $2 million in capital.
The New York City-based fintech 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.
“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,” said Sunay Shah, co-founder and CEO of e.pop.
“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.”
e.pop’s solution highlights the items consumers are actually spending money on and provides a trusted and targeted channel to reach them, while vitally protecting customer identity.
“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,” says Shah.
While the retail sector has typically experienced improvements that are slow-moving and incremental, a global pandemic, greater emphasis on climate change, and enormous changes in the way consumers shop and pay have accelerated the need for smarter data solutions that deliver personalized experiences and drive customer satisfaction.
About e.pop
e.pop (electronic proof of purchase) is transforming the way consumers and businesses think about environmental sustainability, eliminating paper receipts altogether while delivering retail merchants greater data, analytics and insights, and providing a valuable consumer engagement channel. An environmentally safe and efficient alternative to paper receipts, e.pop automatically sends new transactions securely to its mobile app with itemised receipts without consumers needing to share their email information with every merchant. e.pop was co-founded by Sunil Rajan and Sunay Shah with the aim of enabling sustainable practices for both consumers and businesses and making our shopping experiences and daily activities efficient.
Contacts
Ida Lehtinen
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