Arrive Recommerce, which enables brands and retailers to use Returns to Recommerce, has raised US $ 16 million in a Series A fundraising round. The fundraising, coordinated by Javelin Venture Partners and Climatic VC, brings the entire amount raised to US $ 25.1 million.
Alpaca VC, Animo VC, Banana Capital, Cosmic Venture Partners, Freestyle VC, 444 Capital, Maersk Growth, Regeneration VC, Sidekick VC, and Wedbush Ventures are among the other investors in the round.
The proceeds of the transaction will be used by the company to expand its platform and include more brands and operators in the recommerce industry.
Arrive Recommerce CEO and co-founder Rachelle Snyder said, “Recommerce should be a core pillar of a brand or retailer’s strategy.”
In addition to the money, the company has launched the Arrive Recommerce Operators Consortium, which is comprised of recommerce operators and merchants.
Maersk, DHL Supply Chain, SCI, and Ryder System are among the consortium’s members. Arrive Recommerce powers recommerce for a wide range of brands and retailers. The cash comes as the company plans to acquire more brand, retail, and operator partners in 2023. Arrive Recommerce just announced a cooperation with YETI to resell non-new returned items.
Arrive Recommerce COO and co-founder Ross Richmond said, “Recommerce is a trend that is exploding with demand from both the brand and consumer side.”
