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Female-led London startup Slip lands £2.5M to transform the receipt process

Slip founders
Picture credits: Slip

London-based Slip, a female-founded tech startup that redefines the role of receipts in retail, has raised £2.5 million in seed funding. This follows the £750k pre-seed funding round that was secured back in 2022. 

The round was led by London-based Adjuvo (which invested in Q-BOT, Zen Educate, and Cygnetise). It was joined by Haatch Ventures, Unbundled VC, the Side by Side Partnership, and angels, including ASOS’ Executive Vice President of Customer & Marketing, Dan Elton, and former CIO at Frasers and former CTO at John Lewis, Julian Burnett.

How will Slip use the investment?

The startup will use the investment to further enhance the power of its technology and enable more retailers to leverage receipts to better understand customer behaviour. The company will also expand its current team of seven. 

In addition to the investment, Slip has welcomed Myles Dawson, former Managing Director of Adyen UK, as Chief Commercial Officer.

Mark Foster-Brown, CEO of Adjuvo, added: “Slip has re-engineered the receipt from purely a proof of purchase into a tool that helps retailers better understand, re-engage, and reward their customers after leaving the store. Slip’s innovative, mobile-based technology not only gives customers a seamless experience throughout their transaction journeys but also enables retailers to significantly improve data around customer behaviours and outcomes. We have been inspired by the drive and determination of Tash and the wider Slip team, and are delighted to support their next phase of expansion.” 

Idea behind Slip

Founder and CEO Tash Grossman was inspired to launch Slip after a lost receipt saw her stranded in a shop, unable to return a faulty item. The experience sparked the idea for a digitised system that works better for customers and creates opportunities for retailers to add value. She was joined by co-founder and CTO Eddy Herman to turn the vision into reality.

Alongside its mission to unlock insights and personalised marketing routes for retailers, the company is also on a mission to eliminate the environmental impact of paper receipts. In the UK alone, over 11 billion receipts are generated each year, most of which aren’t recyclable. This is what the company resolves by revolutionising receipts. It enhances the shopping experience with digital receipts that are convenient, sustainable, and rewarding.

What does Slip do?

By digitising receipts, Slip’s technology acts as a gateway that surfaces consumer trends, boosts engagement, and provides new marketing opportunities; allowing retailers to connect with customers in fresh ways and offer loyalty benefits. Slip’s API can integrate with existing systems with insights from customer activity fed directly into partner CRMs or marketing technology stacks.

How does it help users?

The Slip software has already been embraced by leading retailers, including JD Sports & Beyond Retro. 

JD Sports partnered with Slip last year to digitise receipts; using them as an acquisition channel for their brand loyalty app JD STATUS without introducing friction into the purchase process. To date, this Slip-powered approach has driven more than 25,000 app downloads and has been rolled out across 400 stores. 

By adopting Slip’s digital receipts process, Beyond Retro unlocked a new route to customer data and a 226% increase in newsletter sign-ups in a single month.

Besides benefitting retailers, Slip enables shoppers to download its consumer-facing app directly where they can save receipts, handle returns, unlock brand rewards, and manage warranties for purchases from partner brands.

Tash Grossman, Founder & CEO, added: “Until now, receipts have represented nothing but waste and a wasted opportunity. We’re transforming the humble receipt from its static, destined-for-landfill status into a data-rich source of customer insight. The response we’ve seen from our early adopter retail partners says it all: our software drives engagement and unlocks valuable customer data. We’ve seen huge spikes in everything from email sign-ups to app downloads for the brands using our software. This investment will enable us to work with more retailers, make our products even more impactful, and prevent billions of receipts from heading to landfill.”

What do we think about Slip?

The £2.5 million funding positions the Slip to advance its technology that revolutionises receipts. With this focus, it redefines passive paper into dynamic assets for a more engaging and sustainable retail experience.

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