ReceiptHero Completes New Funding Round

ReceiptHero is speeding up its quest in transforming trash to valuable real time data, with funding from angel Asko Schrey, SuperHero VC, SeedX VC, LifeLine VC and other angels & team members. This fresh funding allows the company to accelerate the mission of eliminating paper receipts for merchants and to drive greater value in the data generated from real-time receipt delivery, while reducing environmental impact.

The goal is to serve over a million payment terminals in Europe & UK, with first retail pilots in the US within the next 18 months.

The benefits to merchants shifting to digital receipts has never been clearer and a big driver for the new investment:

• Eco-Friendly: Digital receipts significantly reduce carbon footprints, helping businesses contribute to a greener planet. Worldline recently published a report concluding that an in-store transaction generates 2.45g eqCO2, with 42% of that being generated by the paper receipt.
• B2B users can save several euros per receipts in time savings by automating expense management and other processes.
• Digital receipts are the perfect delivery channel for upcoming new dataspaces, like Digital product passport and can significantly help in creating ESG reporting.
• Convenience: Customers enjoy easy access to their receipts, eliminating the hassle of lost or faded paper slips.
• Data Analytics: Merchants can gain valuable insights into customer behavior while ensuring GDPR compliance and privacy.
• Customer Loyalty: Enhance engagement with personalized discounts and loyalty points on every digital receipt.
• Seamless Integration: Our solution integrates effortlessly with existing and new POS systems.
• Security: We ensure top-notch data security, with all payment details stored in a bank-level PCI environment. We were the first to do this already in 2021!

Enhanced Partnerships

ReceiptHero has strengthened it’s partnerships with key ecosystem players. The company says there has been an influx of merchant demand from partners such as Worldline and its subsidiary company Payone. ReceiptHero’s key POS partners are also actively reselling their digital receipt solution, which is strengthening their post payment offering towards merchants.

Additionally, regulatory changes across Europe have increased the demand for digital receipts, positioning ReceiptHero as the go-to solution. These include:

• Finland’s ongoing shift to ‘eKuitti’ via the State Treasury’s real-time economy program.
• Sweden’s parliament passing new legislation on businesses not needing to archive paper receipts
• France’s Anti Waste Law.
• The AFIR regulation on electric EV charging payment infrastructure.
• eUDI Wallet movement provides a perfect fit for digital receipts in consumer and B2B use cases.

“When we founded ReceiptHero over 5 years ago we had to spend a lot of time heavily educating the market on what a digital receipt is. Fast forward to today we see a large amount of merchants inquiring about our service and they have a clear strategy on how they want to deploy digital receipts across their stores,” – Saku Pihlajaniemi, CEO of ReceiptHero

With the growing inbound flow and strong pipeline of merchants, acquirers, and partner apps to onboard. This funding will help the company to accelerate our growth goals and expand further into international markets, not limited to Europe.