Loop picks up $10m in Series A funding

Loop, a US startup that helps brands handle returns from online purchases, has closed a $10 million Series A funding round led by FirstMark Capital and also featuring Lerer Hippeau and Ridge Ventures.

The venture’s flagship product, Returns, has processed more than two million returns for over 200 brands on Shopify, including Allbirds, Brooklinen, Chubbies, FIGS, and Thrive Causemetics. “Direct-to-consumer brands have an opportunity to pioneer a more enlightened era of consumerism, one in which we buy less that means more,” says Corbett Morgan, CEO at Loop.

“Working with these emergent and impactful brands over the last few years, we’ve recognised the profound power they have to build connectivity; we’ll use this funding to help equip these companies to change commerce for the better.”

“We’ve been fortunate to make great investments that have fit our thesis around the importance of discovery and infrastructure in e-commerce,” comments Amish Jani, Founder and Partner at FirstMark Capital.

“We believe a new segment is emerging around connection. Between the phenomenal product-market fit of Loop’s Returns product and the strength of their vision for the future, we believe Loop will be a very important company in the next generation of commerce.”