Pi-xcels Story:
Singapore-based Pi-xcels focuses on transforming the retail system with eco-friendly e-receipts to improve the retail payment experience. Pi-xcels founder and CEO Daniel Lim came up with a solution after noticing a gap in the market.
He converted this problem into an environmentally friendly solution, building a multi-million-dollar retail-tech business.
Daniel Lim: Pi-xcels
Meet Daniel Lim an inspiring Singaporean entrepreneur who never let failure become his obstacle and did not stop until he achieved success. Today, this man has built a multi-million-dollar company, but it is not a cup of tea; it’s a long journey of hard work with dedication.
This journey started in 2007 as oil traders in which Lim has worked in several sectors in a wide range of positions and Roles. He worked as an oil trader, a light-end trading manager, a consultant director and managing partner, an investor, interior CEO, a data strategist, and now the founder of his own company.
The beginning of the journey was painful. Initially, Lim tried to get a job in the US. He submitted almost 300 resumes and went through 50 interviews, but they all rejected him. Nevertheless, he didn’t lose hope, continued his efforts, and finally got on the path to success.
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Failure To Entrepreneur: Pi-Xcels Journey
Singapore based Pi-xcels journey started from a disappointing experience of Lim. Lim often noticed the work of his father. His father was employed in a Japanese company for over 30 years. This company sold products indirectly through stores like supermarkets, so they didn’t have a clear idea of what customers actually wanted. As a result, they often wasted a lot of money in making products that customers didn’t buy.
Lim remembers seeing products that his father brought back that never ended up selling in Japan. Furthermore, he noticed that these products could not be delivered to the clients who might have been interested in purchasing them because they were stuck in the system. This made him realise that the system working was very in efficient and wasteful.
As Lim progressed through his studies in data science, he came to the realisation that many businesses don’t utilise their data to its full potential. Online retailers are more successful than physical stores because they focus on the products customers enjoy and purchase.
Along with this, Lim also observed that there has not been much of a change in electronic receipts (e-receipts) in almost 20 years. They are often sent by email or phone, but they could be better and more useful.
All these experiences sparked an idea in his mind, and he shared it with Tan Yi Hao. Tan also loved this idea, and furthermore, Tan Yi Hao (Co-founder and CPO), Chua Zhen Rong (Co-founder and Head of Commercial), and Eric Lu (Co-founder and CTO) also joined this game-changing idea.
All the co-founders saw this problem as an opportunity and began their entrepreneurial journey to revolutionize how e-receipts work and help retailers better understand their customers. This is how Pi-xcels was born.
What does Pi-xcels do?
Singapore-based Pi-xcels was founded by Daniel Lim and Tan Yi Hao. This is a technology-based platform that specializes in giving out digital receipts. This provides an environmentally friendly alternative to paper receipts for businesses that use receipts, including corporations, retailers, and any other place that uses receipts.
The unique technology of Pi-xcels allows to transform all card-present transactions into meaningful engagement for businesses, which just requires a single touch from a smartphone. Pi-xcels is all about redefining the relationship between consumers and retailers with data.
By addressing this crucial gap. Pi-xcels aims to help companies optimise their operations by unlocking valuable, actionable data insights and at the same time reduce waste, leading to a more sustainable business model.
What makes his story truly inspiring is that, instead of overlooking the problem, Daniel Lim pursued a solution and ultimately founded a multi-million-dollar company.
