Sway (formerly Returnmates) Secures $19.5M Series A Funding for E-Commerce Return Management.
Total returns for the industry amounted to $743 billion in merchandise in 2023, according to the National Retail Federation and Appriss Retail.
Startups have also come in with new technologies to manage the delivery and return experience.
Returnmates, now rebranded as Sway, is the latest to attract new venture capital for its approach to delivery and returns that focuses on the customer.
The company rebranded to Sway as a way to show its evolution beyond returns to last-mile delivery capabilities, company co-founder and CEO Eric Wimer told TechCrunch via email.
Sway is currently active in California, Texas, Washington, Washington, D.C., Maryland, Virginia, New York and Florida.
