Synchrony Financial invests in flexReceipts

Consumer financial services company Synchrony Financial has invested in digital receipts , data analytics and customer engagement solutions provider flexReceipts. The investment was made via Synchrony Financial’s Strategic Investments Group.

FlexReceipts provides retailers with SKU-level data and analysis which forms the foundation of enables customized engagement offers. Customers choosing e-receipts will also received tailored offers.

The investment is a great fit for Synchrony Financial, their EVP of Business Strategy and Development Neeraj Mehta said.

“Synchrony and flexReceipts share a common principle of helping retailers enhance customer loyalty and deliver a frictionless digital customer service experience. FlexReceipts uses cutting-edge technology in a way that is aligned with our vision for retail innovation and we look forward to leveraging the firm’s digital solutions and POS integrations to help our retail partners improve the customer shopping experience.”

Founded in 2011 by Tomas Diaz and Jay Patel, flexReceipts smart email receipt technology is currently in 7,000 stores of more than 35 retailer brands and is also integrated with four leading POS companies.

The flexReceipt investment is at least the third fintech investment for Synchrony Financial. They have also invested in mobile payment platform LoopPay and integrated mobile commerce platform for retail apps GPShopper.

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