Returnly: Raises $8M for post-purchase payment management

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Returnly: Raises $8M for post-purchase payment management

  • Mundi Ventures and The Venture City led the funding round, with further contributions coming from Novel TMT Ventures and CoVenture
  • Returnly’s current retail and brand partners include Fanatics, UNTUCKit, Outdoor Voices and The Greats
  • The company has issued more than $100 million in returns credit to customers,according to the press release
  • Returnly works with customers who return products to help them buy again using return credit
  • Returnly reckons shoppers expected to spend over $600 billion in online purchases in 2019
  • The new financing and line of credit used to onboard larger merchants and integrate its platform with other reverse logistics, e-commerce