Returnly, a San Francisco, CA-based post-purchase payments platform for brands and retailers, raised $19min Series B funding.
The round was led by Craft Ventures, with participation from Max Levchin’s Affirm, and existing investors. As part of this round, Jeff Fluhr, general partner at Craft Ventures, who was previously CEO/co-founder of StubHub, joined Returnly’s board of directors.
The company will use this new financing to continue to grow its merchant services and expand its product offering.
Led by Eduardo Vilar, founder and CEO, Returnly partners with retailers and brands to remove product returns friction altogether. It lets shoppers buy again using return credit before shipping the original items back and settles the new order in real-time, taking the product returns risk. The company has developed a platform for large scale retailers as well as hosted and fully brandable end-customer touchpoints like order and returns tracking, online returns and exchanges.
The company also has offices in Chicago and Madrid.