PayPal Ventures Invests $11 Million In Retail Start-Up Happy Returns

by MR Magazine Staff

PayPal’s venture capital arm is investing $11 million in Happy Returns, marking the largest funding round to date for the online returns service and bringing its total to $25 million. “It’s a huge validation for us,” Happy Returns co-founder and CEO David Sobie said in an interview. “It speaks to the broader challenge, or mission PayPal has, to make e-commerce as easy and frictionless as possible.” Happy Returns operates more than 350 Return Bars in malls, on college campuses and even inside stores like Cost Plus World Market and Paper Source for shoppers to return items bought online when the brand doesn’t have its own physical store. Rothy’s, Untuckit, Everlane and Eloquii are among the brands working with Happy Returns. For retailers, Happy Returns optimizes routing returns to different end-destinations based on the condition of the goods and rules each retailer sets. Read more at CNBC.