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Slip 🧾

receipts are a hazard

setting the scene

  • after a long flight, you head to baggage claim to find that your checked bags never made it to your destination ✈️
  • the airline agrees to pay for any clothes you purchase while they locate your luggage, so you hit up your favorite shops 😏
  • when the airline requests receipts, you fail to find them in any pocket or tote bag
    • looks like you’re stuck paying for your purchases 🤬
  • this week’s company enables a seamless shopping experience by providing consumers and retailers with digital receipts
Slip Logo

in a sentence

Slip is a mobile platform that enables shoppers to manage receipts and provides retailers with consumer data

  • shoppers: present a QR code at checkout to receive a digital receipt in seconds
  • manage: store receipts and receive personalized rewards and offers in the Slip app
  • retailers: Slip integrates with POS systems to create a frictionless and paperless checkout experience while providing data on in-store customers

bulleted version: similar to how a ticket collector scans your ticket at an event, a salesclerk scans your QR code to send a digital receipt into the Slip app 🎟

the basics

Slip Product Image

sponsored by 

  • Mercury is flipping the script on business banking
  • despite being an instrumental pillar of starting and scaling a company, traditional banking has never catered to founders’ unique needs
  • that’s why Mercury’s founders decided to create a new standard for business banking with a platform that fuels founders and their finance teams with exactly what they need (and nothing they don’t)
  • manage FDIC-insured accounts, send money seamlessly, grow with alternative financing, and more – all online, all with confidence
  • try their demo to see why more than 100k startups across industries, stages, business types choose Mercury to help them build the next great companies

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

due diligence

what we like

  • ♻️ less paper: in the US, paper receipt production uses 12.4m trees and emits 4 billion pounds of CO2, yet 49% of receipts end up discarded
    • plus, 93% of paper receipts are coated with toxic BPA/BPS
  • ⏱ frictionless checkout: Slip helps retailers overcome slow e-receipt adoption caused by long checkout times, customer hesitancy to give personal information, and limited cashier training
  • 🛍 in-store data: as brick-and-mortar stores continue to face challenges caused by demand for online shopping and supply chain issues, Slip’s insights allow retailers to better understand in-person shoppers

potential risks

  • 💰 well-funded competitors: Slip may face competition from modern POS platforms like Square and consumer products like Apple Wallet that may innovate to offer instant receipts upon checkout
  • 🤔 scaling shoppers: while Slip provides shoppers with an innovative checkout experience, their scaleability depends on retailers purchasing the product
  • 💻 growth of e-commerce: as customers continue to shift their shopping online, Slip must convince retailers to increase investment in traditional commerce
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founder profiles

comps

why Slip: with 1000+ shoppers on the pre-launch waitlist and retailers confronting environmental regulations, Slip checks out as an industry disruptor 🛍 

bulletin board ✏️

  • last spring, we featured Valence Vibrations, a neurotech startup that offers communication tools that interpret emotions
  • the company just released Vibes for Apple Watch, a product that provides users with instant emotional subtitles during conversations
  • we tested the product in our last meeting, and we felt like we could read each other’s minds 🔮

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