Spanish returns administration software program supplier Rever has raised 7.5 million euros in a seed funding spherical. The capital injection will probably be used to fund the startup’s progress and worldwide growth. The corporate will probably be including AI-powered functionalities to its provide later this 12 months.
Rever is a startup primarily based 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 thought through the pandemic as ecommerce in Spain grew exponentially. They suspected that the expansion would lead to many returned gadgets.
Ecommerce returns
For a lot of on-line sellers, returns are a problem. In Could final 12 months, Inditex (proprietor of manufacturers like Zara, Pull & Bear and Bershka) carried out a hard and fast price for on-line returns in 30 international locations. 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 could be built-in with ecommerce software program. In response to the corporate, it has a give attention to maximizing retained gross sales worth. Retailers can generate extra income by way of exchanges and retailer credit score.
Funding will drive firm progress
At present, the corporate has 120 shoppers. It’s lively in Europe, america and Latin America. With the brand new funding spherical, the startup needs to broaden into new markets. Additionally it is launching AI-powered functionalities, which can recommend various merchandise primarily based 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 staff up with forward-thinking buyers 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 buying expertise”, stated co-founder Oriol Hernández i Fajula. “This capital infusion empowers us to additional develop our platform, strengthen our partnerships, and scale our operations.”
