flexReceipts Receives Investment from venVelo

Winter Park, FL, August 27, 2012 --(PR.com)-- flexReceipts, a leading provider of digital receipt technology, announced today that it has received a substantial investment from venVelo, a business accelerator in Winter Park, Florida.

flexReceipts’ target customers are retailers that print paper receipts and want a better way to engage their consumers. flexReceipts already enjoys established relationships with many of the largest point-of-sale (POS) providers and is in use at the Orange County Convention Center in Orlando, the second largest such facility in the United States with over 1.4 million annual attendees.

Allen H. Kupetz, COO of venVelo and the author of “The Future of Less: What the Wireless, Paperless, and Cashless Revolutions Mean to You” sees the flexReceipts solution as the logical next step in the cashless revolution. “flexReceipts offers consumers an easy way to manage their receipts digitally rather than saving little odd-shaped pieces of paper. It offers businesses superior data analytics and customer engagement tools, both of which offer marketers a unique insight into the buying habits of consumers.”

flexReceipts recently won both the Rollins College Venture Plan Competition and the Florida Venture Forum. The flexReceipts team is led by Tomas Diaz, a 2002 MBA graduate of the Crummer Graduate School of Business at Rollins College.

According to Diaz, “Eliminating the expense retailers are currently incurring for paper receipts, coupled with their total spend on online advertising, creates a multi-billion dollar total addressable market. This investment will allow us to ramp our sales and marketing effort and add more features to our core offering.”

Richard Licursi, CEO of venVelo, added, “flexReceipts aligns perfectly with our strategy of finding and investing in Florida companies that hold great promise as local job creators, can benefit from our experience and involvement, and provide the opportunity for a significant return to our investors.”