Sydney based Refundid have closed their seed round, raising $12m including both debt and equity

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Refundid works by partnering with retailers looking to improve their customers’ refund experience.

  • After less than a year in the market, over 80 retailers are now offering Refundid to their customers including Princess Polly, Adore Beauty, DISSH, sass & bide, PE Nation and Culture Kings.

  • Refundid CEO and co-founder Brad Karney commented on the raise and Refundid’s unique model;

“Seeing the very positive results we had achieved with our retail partners so early on, it became clear to accelerate our growth so that Refundid can be offered to more retailers across the country.”

“Historically, going to your local shop with an item and getting an on-the-spot refund was easy. The rise of eCommerce has made many aspects of shopping easier, but not refunds. Refunds are often the point at which a relationship between a customer and retailer is broken. We want to help fix that for the benefit of both the customer and retailer.”

Salesforce Ventures Managing Director Mike Ferrari commented;

“We are thrilled to partner with the great team at Refundid, who are working hand-in-hand with their retail partners to solve a huge pain point in the industry with a truly win-win product that provides value to both retailers and their customers. We look forward to working alongside Brad and the team as they continue to grow.”

Other investors include : ASX Listed Touch Ventures and Shearwater Capital.