$123.2-184.8k
Plus equity
Exchange and returns platform for Shopify brands
Job no longer available
Exchange and returns platform for Shopify brands
201-500 employees
Job no longer available
$123.2-184.8k
Plus equity
201-500 employees
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.
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 and in 2023, on the back of substantial funding, 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
Jan 2023
$50m
SERIES B
Jul 2021
$65m
SERIES B
Columbus, Ohio
Jonathan Poma
(CEO)Strategist at DYNAMIT from 2010 to 2013. Founder and CEO of Rocket Code from 2014 to 2018.
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