Returnly, which works with thousands of retailers like Rothy's, Untuckit and Fanatics to process returns, has raised a Series B funding round.
Returnly is helping thousands of retailers turn returns back into sales by offering shoppers instant store credit for unwanted items. Founder and CEO, Eduardo Vilar, is pictured in the center, with chief technology officer Marcos Sainz and chief revenue officer Greg Lazarus.
A San Francisco-based startup called Returnly is seeking to solve at least a portion of the headache -- namely, the payment delay -- by issuing instant store credit when you decide you don't want an item. The company says that by assessing a shopper's risk, it can offer store credit to 85% of customers on the spot, without first requiring that the item has been received or even put in the mail.
The company, which works with thousands of retailers like Rothy's, Untuckit and Fanatics, was launched in 2016. The first return it processed came from a customer who spent $75 on foundation, sight unseen, and wound up with the wrong shade for her skin tone. She was issued instant store credit, which she then used to buy the foundation in a different shade, in addition to throwing in a lipstick.
"When we do credits, because it's a better shopping experience, consumers end up buying more from participating stores," says Returnly's founder and CEO Eduardo Vilar. Adds Jeff Fluhr, a partner at Craft Ventures and the founder of StubHub:"The retailer gets a revenue-generating opportunity while the consumer gets instant gratification."
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Boeing CEO says it's completed 96 test flights with 737 Max software fixThe company will likely submit its plan to fix the Max to the FAA and other regulators within the next two weeks.
Lire la suite »
Boeing has called its 737 Max 8 ‘not suitable’ for certain airportsBefore last month’s crash of a flight that began in Ethiopia, Boeing Co. said in a legal document that large, upgraded 737s cannot be used at airports at an elevation more than a mile high.
Lire la suite »
Boeing CEO says two thirds of MAX customers have seen software fixBoeing Co's chief executive said on Thursday that about two-thirds of the p...
Lire la suite »
Former US Ambassador Max Baucus: One thing Americans don’t get about ChinaThe former ambassador to China wants to remind people of the old proverb, 'The mountains are high, the emperor is far away'.
Lire la suite »
Airbus chief says hopes Boeing and FAA can resolve 737 MAX crisis soonAirbus outgoing chief executive Tom Enders expressed hopes Boeing and U.S. Feder...
Lire la suite »
U.S. transport chief defends FAA decision to not immediately ground Boeing 737 MAXU.S. Transportation Secretary Elaine Chao on Wednesday defended the Federal Avia...
Lire la suite »
Boeing Looks to Build Overseas Support for MAX FixBoeing and U.S. aviation regulators will be seeking what amounts to an international stamp of approval when they roll out a safety fix for 737 MAX jets, expected this summer.
Lire la suite »