Receiptful, the newest startup by the Co-founder and ex-CEO of WooCommerce, the popular online shop builder, and WooThemes, the popular website theme builder, Adii Pienaar, is the recipient of U.S $500,000 (NGN 99,525,000) in angel round of funding, according to Ventureburn.
The startup which was launched in November 2014, secured this funding in order to strengthen its operations in the global ecommerce space.
Receiptful is a tool that helps online shops increase customer engagement using email receipts. According to Pienaar, the premise behind the Receiptful is to give users the ability to easily customise their receipts and also help them include dynamic marketing messages (or ‘upsells’).
With upsells, users incentivize their emails, giving customers who make repeat purchases discount coupon that can be used for future purchases.
The investors include: Founder of WordPress, Matt Mullenweg; Co-founder of Buffer, Joel Gascoigne; Co-founder of Grasshopper, David Hauser; Slack Founder, Andrew Wilkinson; Co-founder of Jumia Nigeria, Manuel Koser and the rest.
In an interview with Ventureburn Pienaar said, “Right now, our two primary upsell vehicles are to give a customer a discount coupon — which incentivises them for a repeat purchase — and then we also include product recommendations.”
A radical marketing strategy I’d say.
The service is basically on freemium basis, “The strategy is to keep it free and build a relationship based on that initial value that we can help our customers”, however, Pienaar exclaims, the largesse won’t be for long, “We’re working very closely to releasing our very first paid products.”
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