SG digital receipt startup bags $1.7m to transform retail

Photo credit: Pi-xcels

With just a contactless tap of their smartphone, shoppers can get their e-receipts for purchases made in stores without downloading an app or scanning a QR code.

Pi-xcels, a Singapore-based startup that offers digital receipt solutions using NFC tech, says its product has the potential to shape the future of retail. The company has raised US$1.7 million in its seed funding round led by Wavemaker Partners.

“We are among the few use cases of NFC beyond payments,” CEO and founder Daniel Lim said in a statement. “Not only does our app-less technology enhance customer experiences, it also equips retailers with valuable data to better understand and cater to customers’ preferences.”

Funding details

• Funding amount: US$1.7 million
• Lead investors: Wavemaker Partners
• Other investors: Hustle Fund, Amand Ventures, Black Kite Capital
• Stage: Seed
• Source

Andy Hwang, general partner at Wavemaker Partners, said he expects this technology to set a new standard for retail and inspire businesses to embrace eco-friendly solutions.

Pi-xcels said its tech was first launched in collaboration with a notable convenience store chain in Indonesia. Generally, it partners with financial and payment entities, including those in Spain, France, Japan, and Singapore, instead of directly engaging with retailers.

Pi-xcels was one of seven startups chosen for the Visa Accelerator Program in Asia Pacific in 2023. 

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