The Spanish income has closed a new seed capital, for a total of 3 million euros, with which it will promote its business model, focused on the immediate reimbursement solutions to improve the online after-sales experience. The operation was led by the JME Ventures fund, which participated in a previous round of this company. Other funds such as Fin Capital, Big Sur Ventures and Bynd also participated.
What is Reveni?
Founded in early 2022 by entrepreneurs Fernando Pedraz, Pablo Miller and Gonzalo Martin, Former executives of , Iberia and Aplazame respectively, Reveni has been present since the beginning of September in and maintains operations in and . Based in Madrid and London, in its brief history the startup has been able to manage more than 1.5 million euros in returns and this new injection of capital will serve to expand its business model to other markets.
It is no secret to anyone that the pandemic exponentially accelerated online sales and solutions to improve the customer experience. However, the post-sale experience was left behind, so Reveni was born with a clear purpose: to cover the field of returns and make it easy to get refunds for online purchases in less than 10 secondswhile providing a platform that protects brands from electronic fraud. As the company explains on its website, the process for using Reveni is simple: “The customer selects the products they want to return, receives the refund instantly and returns the product as usual.”
The objective of the company, now that it already has a team of 12 people, is to consolidate itself as a leader in the world of fintech in the coming months, taking advantage of the campaigns in November and Christmas shopping, key periods for brands, where a solution to easily manage returns will be essential, using them as a lever for customer loyalty.
Fernando Pedraz, founder of Reveni, «TWe have a very defined mission: to turn returns, which are now a headache for brands and their customers, into a key marketing tool. generation of sales and customer loyalty. We already work with dozens of brands that are seeing a clear improvement in their income with instant reimbursement, since it reduces the fear of the consumer who is going to buy for the first time and captivates those who have already bought, achieving loyalty».
The importance of post-sale service in eCommerce
It is clear that facilitating returns can become a powerful magnet to attract new customers to an eCommerce. Thus, according to data from Reveni itself, the 72% of customers prefer their refunds in cash in front of gift cards in the store and 92% of them buy again from an eCommerce after enjoying a simple refund experience.
Although its business model is considered risky, Reveni works with well-known brands such as Singularu, Pompeii, Laagam, Kotidiano, The Akala Studio and Apodemia. These companies already offer the Reveni solution to their consumers, with good results: «Each euro that our clients invest in Reveni returns almost three euros in new sales»Pedraz says.
Previously, Reveni closed a financing round in April this year, for a total of 800 thousand euros, where different investors participated: the founders of Capchase, Ignacio Moreno, Luis Basagoiti and Miguel Fernandez, Fernando Cabello-Astolfi, founder of Aplazame and Devengo and the co-founder of Ironhack and Accel Scout, Gonzalo Manrique. They entered as shareholders of Reveni José Antonio Barrionuevo, CFO of Iberia; Evaristo Babé, co-founder of Sin Apron and Pulpomatic; Borja Aranguren and Nacho Travesí, co-founders of Cobee; Carlos Miragall, co-founder of Nextail Labs and CFO of Panaseer; and the investment banker Rafael del Valle, among others.
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