A Columbus serial entrepreneur’s startup that automates returns and exchanges on the Shopify e-commerce platform has raised $10.1 million toward building a broader buy-independent movement online.
FirstMark Capital, an early investor in Shopify and Pinterest, led the Series A round, with participation by Lerer Hippeau, also of New York, and San Francisco-based Ridge Ventures. Overall there are nine investors, according to a regulatory filing.
Loop’s subscription software automates return steps such as printing an address label, and suggests potential exchange items so brands can keep the customer. From there it wants to elevate the entire post-purchase experience so shoppers choose independent retailers and build relationships that last beyond checkout – the spirit of “buy local” untethered from geography.
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Story excerpt provided by Columbus Business First.
Written by Carrie Ghose.
Originally published November 13, 2019.