Thursday, April 25, 2019

Happy Returns Raises $11M, Gets Strategic Backing From PayPal

Santa Monica-based Happy Returns, the returns logistics company led by David Sobie, announced this morning that it has raised $11M in a financing round, which included a strategic investment from PayPal. Prior investors U.S. Venture Partners and Upfront Ventures also participated in the funding. Happy Returns has now raised $25M in total, and has now grown to a total of 55 employees. Happy Returns offers up handling of online returns for e-commerce retailers, offering both a network of return locations (called "Return Bars") where consumers can return products in-person for multiple retailers, as well as handling of returns through a retailer's own store or via carriers. Happy Returns' in-person returns include even further processing, handling aggregation and sorting as well as further disposition of returned items, saving what the company says is a significant amount of shipping and other costs for those retailers. Happy Returns' Sobie said in a statement the deal with PayPal will make its service "more broadly available" to PayPal's large network of merchants. More information »