Returnly Raises $8M Series A to Help Online Retailers Bring Frictionless Returns to the Modern Shopper
Summary
SAN FRANCISCO--( BUSINESS WIRE )-- Returnly , the post-purchase payments company for retailers and brands that care about customer loyalty, today announced that it has raised $8 million in Series A funding. As part of these concurrent financing events, Rajeev Singh-Molares from Mundi Ventures is joining Returnlys board of directors. Returnly is leveraging proprietary data and machine learning to make the right underwriting decisions in real-time,” said Ali Hamed, partner at CoVenture. And with its proven solution and the ability to now underwrite hundreds-of-millions in gross merchandise value every year, Returnly has positioned itself to continue leading and innovating in the post-purchase payments space,” added Brian Harwitt, VP at CoVenture. The post-purchase payments company lets consumers buy again using their return credit before shipping the original items back, driving loyalty and incremental sales.