flexReceipts Raises $1.4M A Round

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flexReceipts, an Orlando digital receipts startup, has closed a $1.4M Series A funding round led by venVelo, a Winter Park early-stage venture fund, with participation from The Florida Institute for Commercialization and Public Research, Florida Angel Nexus, Angel Round Table, Angel Street Capital, and TiE Tampa Angels. In addition to expanding sales and marketing efforts, the funding will go toward innovations designed to let retailers engage with their customers. “We entered this market because we knew we could elevate the digital receipt from its current state, a static PDF copy of a paper receipt, into a dynamic customer engagement tool that works with retailers of all sizes, from a single store, Mom & Pop bakery to 3,000-store chains,” said Tomas Diaz, founder and CEO of flexReceipts. “Our retail customers recognize us as more than a digital receipts provider because our receipts are more than just simple proofs of purchase. They see us as a marketing catalyst.” “Early adoption rates of flexReceipts’ dynamic digital receipts are indicative of the future of this trend,” said Richard Licursi, CEO of venVelo. “In the months since launching, flexReceipts is seeing a 20 percent conversion rate of its retailers’ customers opting for a digital receipt. That resulted in millions of transactions in the first quarter and a solid business model.” Read more here.