Loop Returns
Exchange and returns platform for Shopify brands
- 201-500 employees
- B2B
- Logistics
- Customer service
- SaaS
- Delivery
- Columbus, Ohio
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Company mission
Loop Returns' mission is to make merchants successful while helping people become more mindful of how they consume by providing seamless product returnal, exchange, and logistics services.
24% employee growth in 12 months
Our take
Despite the convenience of shopping online, eCommerce brands face the significant challenge that customers are unable to try a product before they buy, and this ultimately leads to product returns. This can result in revenue and customer loss, complicated logistics, and customer dissatisfaction, problems that could be resolved by offering exchanges instead of returns.
Loop Returns provides an exchange and returns platform for Shopify brands, providing the logistic networks, automation tools, and analytics essential for facilitating seamless product exchanges. The company claims that its exchange-focus approach can help Shopify brands turn costly returns into new sales, increase customer satisfaction, and help brands contribute toward sustainable commerce.
Whilst the company will certainly face competition from alternative Shopify-integrated logistics providers, Loop Returns stands out with its unique approach of treating every product return as a potential exchange. In 2023, off of substantial funding, Lopp Returns released an app for Shopify merchants - Benchmarks - which acts as a refund comparison and analytics platform. Through this approach, the company claims that it can help brands save up to 50% of revenue on their returns, retain customers that would otherwise be lost, and prevent the wasting of products.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Health Insurance - We believe in taking care of your whole self, all the time. Your bases are covered with healthcare benefits–medical, dental, and vision insurance–and Loop helps with the premiums
- Paid Holidays - 15 paid company holidays, including our very own holidays we call “Loop Days.”
- Paid Sick and Safe Leave - You’re not a machine, you’re a human—and you can only do your best work when you feel your best. Loop offers 2 weeks of paid Sick and Safe Leave to use if you are not feeling well, need to take care of a loved one, or need a mental health day
- Monthly Wellness Benefit - We value our employees' experience and support their quality of life outside work. Our wellness benefit includes reimbursements for both personal (physical/mental) and professional wellbeing
- Internet & Phone Benefit - We reimburse a portion of your phone or internet bill so you can stay connected and comfortable
- Equity - We offer stock options as a strategy for investing in the success of our business and happiness of our team members. By offering stock options, all team members are owners and play an integral role in the long-term success of our business
- Flexible Paid Time Off - We have no limit on the amount of time off you can take. Use PTO to get away, move into a new place, celebrate your birthday, or whatever you need it for!
- Paid Parental Leave - We’re committed to supporting our team members during and after this significant life change. Loop offers 14 weeks of paid parental leave, plus an additional ramp-up period, so new parents can gradually transition back into their role
- Blended Working Environment - We believe you can do your best work when you have the flexibility to choose where and how you do it. Our Blended Working Environment is the ability to customize the way that you work through a combination of Employee Experiences (secluded, hub, office) and Work Modes (remote, hybrid, in-person). This includes a quarterly budget for use of a co-working space and budget to plan in-person or remote gatherings
- Home Workstation Benefit - We want you to be set up for success from day one, so we offer a one-time reimbursement for you to purchase or refresh anything for your work-from-home setup. We’ll also provide you with a Macbook, monitor, keyboard, and mouse
Company values
- Be A Human First - The world anticipates workers, but we show up as humans. We check in on the wellbeing of others and take care of ourselves, so we can all show up to Loop as our best selves
- Clear Is Kind - We’re kindest when we’re transparent and honest with others to help them succeed. We ask clarifying questions and seek to understand instead of being understood
- Go Get Results - We don’t wait. We each take personal responsibility to drive action. We move quickly, but we don’t hurry. We pursue constant improvement — so when we know better, we do better
- Land The Plane - We hold ourselves accountable to our own results and behaviors. We push to make decisions, and then move on them when they’re made. We finish what we start
- Make Merchants Successful - We exist to make our merchants more successful, and we’re obsessed with that challenge. We impact real problems and prove real value by being experts in our industry
Funding (last 2 of 4 rounds)
Jan 2023
$50m
SERIES B
Jul 2021
$65m
SERIES B
Total funding: $125.5m
This company has top investors
Leadership
Jonathan Poma
(Board Director & Founder)Strategist at DYNAMIT from 2010 to 2013. Founder and CEO of Rocket Code from 2014 to 2018.
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