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Receet Secures a six-figure pre-series A investment round

Receet Secures a six-figure pre-series A investment round


F4J project has been supporting startups -through the Entrepreneurship Eco-system Matching Grant component- to improve their readiness and capacity to absorb funding from investment vehicles. During the last months, F4J has been supporting Receet in its outreach activities. This allowed them to attend to multiple conferences around the world to increase brand awareness, partnerships and pitch investors. As a result of this support, Receet was selected to participate in the Dubai Smart City Accelerator which helped them to further develop the product and access to new markets beside Palestine like; Jordan, UAE and KSA. All of these led Receet to secure an amount of $16,250 from Dubai Smart City Accelerator and $379,080 in-kind for training, acceleration and mentorship. Furthermore, Receet will get new round of investment from Fikra, Paltel Innovation Hub in Palestine.

Receet software is being used in several countries in the Arab world, offered through leading global POS systems, like Square, iZettle, RetailPro, Foodics, POS Rocket and others, which serve over one million clients around the world.

"F4J project is a great support for us, their financial assistance allows us to reach more stakeholders in the business development and fundraising actors for startups which really helped us gain further technical support and secure additional funds." Said, Omar Barkawi, CEO of Receet.

 

Receet Startup:

Receet is a startup that allow customers to receive digital receipts straight to their phones without disclosing their email addresses or phone numbers to the merchants. The app also helps retailers improve their operations by enabling them access to data-driven insights on consumer behaviors. It also helps them cut down on printing costs and most importantly paper waste -which is a major environmental issue.