Pi-xcels bags $1.7m Seed round funding to boost retail transactions
By Gloria Mathias
Pi-xcels, an innovator in digital receipt solutions, has completed its seed funding round, raising $1.7 million. The round was led by Wavemaker Partners, and other venture capital firms such as Hustle Fund, Amand Ventures and Black Kite Capital, as well as strategic angel investors.
The round marks a step toward realizing Pi-xcels’ vision of revolutionizing the retail landscape and empowering merchants with its interactive Near Field Communication (NFC) receipt technology.
“Pi-xcels shapes the future of retail with paperless receipts and data-centric shopping journeys,” said Pi-xcels CEO Daniel Lim. “We are among the few use cases for NFC beyond payments. Our app-free technology not only enhances customer experiences, but also equips retailers with valuable data to better understand and meet customer preferences.”
Pi-xcels’ NFC-enabled POS device enables contactless, one-touch interactive electronic receipting in stores via a smartphone, eliminating paper waste and encouraging eco-friendly practices. This can be done without the need to download apps, scan QR codes or share personal information, enhancing the shopper experience. It also simplifies the collection of electronic receipts for official claims with a single sign-on, resulting in tidy wallets for end users.
At the same time, Pi-xcels offers comprehensive transaction intelligence in real-time, providing valuable data-driven insights for retailers.
“Pi-xcels makes it easy for businesses and payment platforms to adopt digital receipts. In addition to making the process easy for consumers, the solution is already integrated with payment terminals, making it easy for merchants to adopt. The company’s technology, bolstered by patents, positions Pi-xcels as an industry leader. We anticipate this technology will set a new standard for retail and inspire businesses to embrace green solutions, contributing to a more sustainable future.” said Andy Hwang, general partner at Wavemaker Partners.
The new funds will boost global business development initiatives, by expanding Pi-xcels’ footprint in Europe and consolidating key projects in Japan and Southeast Asia.
Pi-xcels is a Singapore-based technology company at the forefront of digital receipt solutions. Leveraging its app-free NFC technology, Pi-xcels enables retailers to issue paperless receipts directly to smartphones, delivering better customer experiences and data-driven insights
IBSi Daily News Analysis
September 27, 2023
Looming data compliance issue still haunts FinTechs, research revealsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage