Rebound, a Telford and Central London, UK-based global returns management platform for online clothing retailers, received an investment from BGF.
The amount of the deal was not disclosed. In conjunction with the funding, BGF’s Gurinder Sunner, will join the board.
The company intends to use the funds to grow its customer base both in the UK and internationally and develop its data analytics platform, enabling retailers to identify trends in customer behaviour.
Founded in 2015 by CEO Graham Best and COO Phil Smith, two experienced logistics operators, Rebound provides retailers with proprietary software and an extensive logistics network to manage their UK and international returns service, improving efficiency, traceability and customer experience.
The company has grown by 400% year-on-year with revenue which will double in 2018. Having focused initially in the clothing retail market, it is targeting expansion into homeware, technology and furniture and has announced the opening of a Hong Kong office.
Rebound has established partnerships with more than 100 local and global third-party carriers across 195 countries, and has over 500 customers managing 35 million returns transactions a year.
Following an introduction by BGF, Bill Joss has been appointed as its new Chair. In addition, Caroline Green, formerly of Prolabs and a non-executive on the board of the British Business Bank PLC, joins the business as CFO.