Spanish returns administration software program supplier Rever has raised 7.5 million euros in a seed funding spherical. The capital injection might be used to fund the startup’s progress and worldwide growth. The corporate might be including AI-powered functionalities to its supply later this 12 months.
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 concept through the pandemic as ecommerce in Spain grew exponentially. They suspected that the expansion would end in many returned gadgets.
Ecommerce returns
For a lot of on-line sellers, returns are a problem. In Might final 12 months, Inditex (proprietor of manufacturers like Zara, Pull & Bear and Bershka) applied a set charge 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 needs to supply an answer to this problem. Its platform might be built-in with ecommerce software program. In line with the corporate, it has a concentrate on maximizing retained gross sales worth. Retailers can generate extra income by means of exchanges and retailer credit score.
Funding will drive firm progress
At the moment, the corporate has 120 purchasers. It’s energetic in Europe, the USA and Latin America. With the brand new funding spherical, the startup needs to develop into new markets. Additionally it is 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 traders who share our ardour for shaping the way forward for ecommerce and our mission to deliver hassle-free, sustainable returns to everybody, anyplace, 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.”
