Loop Returns provides a guided returns platform that walks customers through sizing questions, offers exchanges or store credit, and, when necessary, handles shipping labels and refunds for brands. The product aims to reduce costly full returns by steering customers toward alternatives that retain revenue. The company had planned international, platform, and product expansion prior to the pandemic but refocused on its core offering during that period. Loop has grown its team from 20 employees in 2019 to 100, with 41% of the team identifying as female and 16% identifying as BIPOC. Traction expanded from about 200 to 700 customers and from $26 million in returns processed to just over $100 million. The company previously raised a $10 million Series A led by FirstMark Capital and has now closed a $65 million Series B. Loop Returns installs on top of Shopify to manage returns, immediately offering exchanges or depositing store credit in real time so customers can shop again. The product guides customers through exchanging sizes, selecting different items, or choosing brand credit instead of refunds. Founders Jonathan Poma and Corbett Morgan created the company after consulting with a large Shopify brand about improving returns and exchanges. Loop frames its mission as building "connection infrastructure" to deepen customer-brand relationships and reduce return volume. The company plans to launch an additional post-purchase product in 2020 and will use new funding to expand operations and develop current and future products. Loop already serves more than 200 customers and has handled over 2 million returns, working with brands like Brooklinen, Allbirds, and PuraVida.

Total raised

$75M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2021