201912 Nov

Loop Returns picks up $10 million in Series A led by FirstMark Capital –

Summary

Loop started when Jonathan Poma, a co-founder and COO and president, was working at an agency and consulting with a big Shopify brand on how to improve their system for returns and exchanges. It then asks if the customer would prefer to exchange for a new item altogether, depositing the credit in that person’s account in real time so they can shop for something new immediately. The goal, according to Poma and Morgan, is to turn the point of return into a moment where brands can create a life-loyal customer when handled quickly and properly. Poma and Morgan believe, with an almost religious reverence, that the brands themselves will help lead shoppers and infrastructure providers to a better, more connected shopping experience. That said, Loop Returns believes there is a long way to go as it builds the “connection infrastructure,” and that one clear path forward is actual personalization.

Source: Techcrunch

Funding

$10M
Amount
Nov 12 2019
Date
-
Investor
Loop Returns
Company

Classifications

Companies