Spanish returns administration software program supplier Rever has raised 7.5 million euros in a seed funding spherical. The capital injection can be used to fund the startup’s development and worldwide growth. The corporate can be including AI-powered functionalities to its provide later this yr.
Rever is a startup based mostly in Barcelona. Its platform permits retailers to handle returns with real-time information on return requests, refunds and exchanges. It additionally automates a big a part of the returns course of. The founders got here up with the thought through the pandemic as ecommerce in Spain grew exponentially. They suspected that the expansion would lead to many returned objects.
Ecommerce returns
For a lot of on-line sellers, returns are a problem. In Could final yr, Inditex (proprietor of manufacturers like Zara, Pull & Bear and Bershka) carried out a set price for on-line returns in 30 nations. H&M has additionally began testing paid returns. And in Switzerland, a movement to cost the return of products was mentioned within the Nationwide Council.
Rever desires to supply an answer to this problem. Its platform might be built-in with ecommerce software program. In accordance with the corporate, it has a give attention to maximizing retained gross sales worth. Retailers can generate extra income via exchanges and retailer credit score.
Funding will drive firm development
At the moment, the corporate has 120 shoppers. It’s lively in Europe, the US and Latin America. With the brand new funding spherical, the startup desires to broaden into new markets. It’s also launching AI-powered functionalities, which can counsel different merchandise based mostly on a buyer’s earlier purchases and preferences.
‘The capital infusion helps us develop our platform, strengthen partnerships and scale our operations.’
“We’re excited to crew up with forward-thinking buyers who share our ardour for shaping the way forward for ecommerce and our mission to convey hassle-free, sustainable returns to everybody, wherever, anytime, contributing to a seamless purchasing expertise”, mentioned co-founder Oriol Hernández i Fajula. “This capital infusion empowers us to additional develop our platform, strengthen our partnerships, and scale our operations.”