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Return Helper Secures $1.8 million USD in Latest Funding Round to Expand Cross-Border E-Commerce Solutions
Return Helper, a Hong Kong-based startup specializing in cross-border e-commerce returns, has successfully completed a new funding round, raising $1.8 million USD. The investment was led by HIRAC FUND, a Japanese venture capital firm, with Pegatron Venture Capital also joining in. This follows a previous $1.5 million USD Pre-A round led by AVA Fund and supported by Colopl Next and Cornerstone Venture Capital.
The newly acquired funds will be used to strengthen Return Helper’s presence in Japan, Singapore, and Southeast Asia. The company plans to focus on enhancing their returns management system and advancing their ReCommerce strategy. This strategy aims to increase the local resale or recycling of returned goods, thereby reducing carbon emissions associated with cross-border logistics.
Return Helper Aims to Reduce "True" Returns, Achieving the Sustainability Goal of 70% Local Resale
Roy Wan, co-founder and CEO of Return Helper, emphasized that the company’s goal is to increase the frequency of second-hand sales to minimize waste. Currently, around 40-45% of returned items are either opened or have damaged packaging but remain valuable. By improving their platform and connecting with a network of liquidators, Return Helper hopes to achieve over 70% local resale or recycling of returned products.
Return Helper is also set to enhance its technology offerings. The company plans to develop automated systems for handling returns, including an overseas warehouse return inspection system and AI-based analysis tools. These innovations aim to streamline the return process and provide more efficient solutions for both consumers and e-commerce businesses.
To address the growing demand for efficient return solutions, Return Helper has introduced a new plugin that allows e-commerce merchants to integrate their services directly. This will simplify the return process for consumers, eliminating the need for manual intervention and improving overall efficiency.
Return Helper's Revenue Quadruples Over the Past Three Years, Next Steps: Deepening Presence in Asia and Expanding Globally
Over the past three years, Return Helper has experienced a significant revenue growth, expanding fourfold. The company has also made strides in the Japanese market, signing over 20 clients within just three months of entering the region. They have opened a new office in Tokyo and are aggressively expanding their operations in Singapore.
Samuel Santoso of HIRAC FUND commented, “Entering the Japanese market can be challenging without local support, and we’re excited about the innovation Return Helper brings to the table. Their impressive track record and growth potential have convinced us to lead this funding round. We are committed to helping them further their success in Japan with the resources of the Money Forward group.”
With their latest funding, Return Helper is poised to strengthen their cross-border e-commerce solutions and advance their mission of sustainability. The company’s focus on automation and strategic market expansion positions them well to continue growing and innovating in the global e-commerce landscape.
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