202121 Jul

Loop Returns locks in $65 million Series B led by CRV

Summary

The software works with the Shopify platform to reduce the cost and difficulty with a commonplace issue in retail, which is returns. For big and small brands alike, this is a trend that not only costs money, but potentially loses a customer and future revenue. It starts with questions around sizing of the item, and then moves to the notion of an exchange, and then offers the customer credit with the brand over a return. If a return is all the customer wants, Loop handles some of the stickier pieces of that process, such as shipping labels and refunds for the brand. Ultimately, that Black Swan moment led the company to focus on its core offering and taking care of its customers, and it paid off, especially on the heels of the acceleration of e-commerce.

Source: Yahoo

Funding

$65M
Amount
Jul 21 2021
Date
-
Investor
Loop
Company

Classifications

Companies