🇩🇰 Claimlane raises €1.8m to help European brands remove the pain from handling product returns
We are excited to announce that we just closed a €1.8M Seed round led by Vendep Capital to accelerate our growth in the UK and mainland Europe. The fundraise enables us to accelerate our product vision to help furniture and lifestyle brands simplify and automate their complex backend processes related to handling product returns and warranty claims.
We’ve already come far
We have come a long way since 2019 when we scrambled to develop our initial product to partner with our first customer, GANNI. Since then, we’ve welcomed wonderful brands such as Hummel, Matas, Rains, and Søstrene Grene to become the leading solution in Denmark for streamlining claims and complex return processes.
Today, over 9,000 brands and retailers are part of Claimlane’s B2B returns network, which helps standardize how the retail industry handles returns and claims.
Simplifying product claims and complex return processes is a massive opportunity
The fashion industry has set high standards for product returns: buy, try, return. But for industries such as furniture and lifestyle, returns are more complex and expensive, making it challenging to meet customers’ expectations.
For these businesses, creating a return label is just the tip of the iceberg. Challenges such as return collections, warranties, and repairs require different interactions which leads to various workflows and outcomes.
Managing customer expectations, internal processes, and partner communication is a big challenge. Yet, brands and retailers still typically handle it with spreadsheets, emails, and custom solutions. As a result, often up to 80% of the time spent on handling returns is wasted.
However, all the existing returns software out there focus on the same issue of making returns easy for the shopper by automating those simple “change of mind” returns.
In contrast, Claimlane cater to businesses with more complex products and processes. We streamline everything from advanced customer self-service to backend tasks like warehouse processing, internal collaboration, and reporting. We provide the backbone, not just the front end.
Previously, only enterprise-level brands could afford such solutions. Now, we can offer powerful return software as a SaaS solution for brands and retailers of all sizes and democratize access to efficient return management for thousands of brands and retailers worldwide.
Next up: Expanding into the UK
That’s why we are thankful to partner with Vendep Capital. They bring strong expertise in scaling SaaS businesses for rapid growth and unicorn status. Vendep joins the cap table, which already includes angel investor Nicolaj Reffstrup, founder and previously CEO of GANNI.
Here’s what Vendep says about our partnership:
“After seeing what the Claimlane team has achieved in Denmark, we are excited to support them in their global expansion. Customer-centricity and ambition are driving forces in this team, so we look forward to seeing their vision for the B2B return handling space come to life.” – Timo Felin, Investment Director, Vendep Capital
The immediate next step in our expansion is to follow the footsteps of our Viking ancestors into the UK, where we will focus on helping furniture and lifestyle brands. We just opened our UK office, welcomed new UK teammates, and partnered with wonderful British brands such as The Hut Group, FFX, and Cult Furniture. We are excited to spend a lot of time in the country of football, cold pints, and Sunday roasts.
Thank you!
On a final note, we want to thank all our amazing customers for the trust you have shown us. We will do everything we can to deliver and every day to make handling product returns and claims a breeze.
Originally published on 28 May by Claimlane.
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