Reversso, a Chilean startup, raised $1.1M in a seed round led by the Chile-based fund Genesis Ventures. Other participants in this round were Hero Capital and Grupo Prisma.
The startup offers a B2B software solution for returns and exchanges on e-commerce platforms. The software automates the exchange process and allows the store to make refunds instantly when clients return products.
Reversso’s technology also aims to improve reverse logistics and automate payment processes. The startup’s product saves up to 80% of the time used on return processes and benefits both retailers and users. According to the CEO, Benjamín Santa María, the software helps companies transform their customers into loyal and recurrent users.
The startup has now arrived in Mexico and will focus on accelerating its operation in this country.
With this new funding, Reversso will launch new products such as an insured refunds service for customers. The company also plans to increase its customers from 300 to 1,000 in 12 months.