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Ramallah-based paperless receipt app, Receet, is setting its sights high with planned expansions, after it raised a six-figure Pre-Series A investmer.
Ramallah-based startup, Receet, has secured a six-figure Pre-Series A investment round lead by the Ibtikar Fund, with participation from Paltel Group. The app enables users to receive digital receipts on their mobile phone, without forcing users to submit their private phone numbers or email addresses to merchants. The news comes after Palestinian startup won RiseUp’s inaugural Pitch by the Pyramids event in December.
The startup will use the investment to expand into other countries within the MENA region, as well international markets, according to founder and CEO, Omar Barkawi. “We will build on the momentum from our recent participation in the Dubai Smart City acceleration programme and continue to sign agreements with leading point of sale system providers in the region and beyond."
The service will also hugely benefit merchants, who will be able to use it to monitor consumer behaviour through a comprehensive dashboard, while significantly reducing their printing costs. But perhaps the most interesting benefit of this its huge green potential in its conservation of paper.
The app is currently being used in various different countries across the MENA region, and have also signed contracts with different large-scale POS system providers, such as Square, iZettle and Retail Pro, enabling them to provide the app to their clients, which number at more than one million globally.
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