Returnmates/Sway raises $19.5M to manage delivery and returns

Returnmates rebranded to Sway after expanding their offerings from managing returns to include last mile deliveries. Returns in the retail industry amount to $743 billion in 2023 according to the National Retail Federation.

Sway solves this by having a two-way platform and tracker (similar to delivery platforms) with a 30 minute delivery/pickup time allotment. You can also add extra instructions and extra packages for pick up.

Returns are also at the doorstep where Sway takes, gathers and ships it back themselves, removing the hassle of repackaging and making it convenient from your home.

Sway’s results says that brands saw a 66% reduction in lost package rates and a 20% increase in repeat purchases. The returns feature also reduces unit costs by 15% and cycle times go from 7 days to less than 3 days.

They raised $19.5M, led by 7GC, to grow their team, tech and reach across more cities from the 20 they currently have.