Receiptable, a Bahrain-based fintech startup, has successfully secured a pre-seed investment led by HP Spring Studios, a venture capital firm supported by both Al Waha Fund of Funds and Hambro Perks. Established in 2022 by Chris Purdie, Receiptable is pioneering the digital receipt market by enabling a seamless connection between banks and retailers, allowing consumers to effortlessly receive digital receipts on their smartphones.
The company intends to allocate the newly acquired funds towards hiring new staff, developing its platform, and initiating operations with its inaugural partner bank in Bahrain. This move is anticipated to significantly contribute to Bahrain’s thriving economic environment.
By offering digital receipts directly within banking apps, Receiptable aims to revolutionize the management of digital receipts, providing a more streamlined and innovative solution. This technology not only facilitates a better customer experience by providing detailed spending data but also offers valuable insights to both banks and retailers.
Zainab Khamis, the Head of HP Spring Studios in Bahrain, shared her excitement about the investment, highlighting Receiptable’s innovative solution that strengthens the link between banks and retailers. She emphasized the platform’s potential to enhance Bahrain’s fintech ecosystem by offering crucial data that can lead to improved service personalization. Khamis noted the growing demand for digital solutions and Receiptable’s strong position for future growth in the rapidly evolving fintech sector.
Chris Purdie, CEO of Receiptable, celebrated this financial milestone, stating that the support from HP Spring Studios will allow the company to elevate the retail post-purchase experience, transform banking apps into more frequent points of engagement, and significantly reduce the use of paper receipts in Bahrain. Purdie views this investment as a significant step forward for technological innovation and talent development in Bahrain, leveraging HP Spring Studio’s extensive regional network and access to banking and fintech expertise.
