Aussie fintech Slyp has appointed former Venmo finance director and PayPal veteran Ashley Davies to drive the company’s global commercial strategy and boost its fundraising efforts.
Slyp, the digital receipt technology provider, said Davies will oversee all finance, commercial, and operations within the business.
Davies has worked in finance for 20 years, ten of which have been in fintechs.
He spent the past three and a half years with Intuit where he joined as head of finance for Australia before leaving to manage the Asia Pacific business.
Before joining Intuit, Davies tenured almost seven years with PayPal, five of which saw him based in Silicon Valley where he was selected as Venmo’s first chief financial officer.
A key part of his role will be to oversee Slyp’s next funding round, alongside chief executive Paul Weingarth. The is expected to close before the end of the year.
The fintech said Davies' technical skills and experience will be invaluable in developing the commercial modeling which will form the foundation of Slyp’s future, both in Australia and overseas.
Slyp is on track to deliver the smart receipt solution to more than 13 million Australians by the end of 2022 through a multi-bank channel model.
“With his experience in the tech sector in both finance and strategic roles, he’ll bring an extra level of analytical and financial nous to strengthen our leadership team as we continue our exponential growth in Australia, and plan for global expansion,” Weingarth said:
“Right now, our focus is on driving forward the smart receipt experience and making sure that next year at least one in two Australians have access to the offering.
"With Ashley joining the team, it allows myself and the other founders to double down on growing Slip at scale by integrating more banks, expanding to more merchants, and bringing more Slypsters on board.”
For his part, Davies said the growth the business has seen since officially launching late last year is staggering and it’s clear there’s a lot still to come.
"The upcoming fundraise is just one example of this and implementing steadfast financial processes and commercial modelling will set us up for even bigger capital raises when the time comes," he said.
Strategic relationships key
Launched in December 2020, Slyp was founded by ex-PayPal executives, Paul Weingarth, Spiro Rokos, and Mike Boyd who joined from the ANZ.
The fintech is leading the charge on the switch from paper receipts to smart receipts, delivering the digital alternative seamlessly inside the banking app.
Slyp’s rapid growth has been accelerated by strategic partnerships with key Australian companies including investment from all four major Australian banks. National Australia Bank was the first to market with the technology and is currently exclusively offering smart receipts to its customers directly in the NAB app.