Spanish returns administration software program supplier Rever has raised 7.5 million euros in a seed funding spherical. The capital injection shall be used to fund the startup’s progress and worldwide enlargement. The corporate shall be including AI-powered functionalities to its supply later this yr.

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 concept in the course of the pandemic as ecommerce in Spain grew exponentially. They suspected that the expansion would end in many returned objects.

Ecommerce returns

For a lot of on-line sellers, returns are a problem. In Might final yr, Inditex (proprietor of manufacturers like Zara, Pull & Bear and Bershka) carried out a set 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 will be built-in with ecommerce software program. In keeping with the corporate, it has a concentrate on maximizing retained gross sales worth. Retailers can generate extra income via exchanges and retailer credit score.

Funding will drive firm progress

At the moment, the corporate has 120 purchasers. It’s energetic in Europe, america and Latin America. With the brand new funding spherical, the startup needs to increase into new markets. It’s also launching AI-powered functionalities, which is able to 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 group up with forward-thinking traders who share our ardour for shaping the way forward for ecommerce and our mission to carry 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.”