Copenhagen-based Claimlane, a platform specializing in returns and claims management for brands and retailers, has successfully raised €1.8 million in a Seed funding round. The investment was led by Vendep Capital, aimed at supporting Claimlane’s expansion in both the UK and mainland Europe.
The newly acquired funds will be utilized to advance Claimlane’s product vision, particularly focusing on aiding furniture and lifestyle brands in automating their backend processes for product returns and warranty claims. Claimlane’s platform is designed to simplify and optimize the often complex and costly return processes that these industries face.
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Addressing Industry Challenges
Claimlane highlights that while the fashion industry has set high standards for returns, the processes for furniture and lifestyle businesses are far more intricate. Creating return labels is just the beginning; challenges such as return collections, warranties, and repairs require more sophisticated workflows. Managing these tasks through traditional methods like spreadsheets and emails can waste up to 80% of handling time. Claimlane’s software offers a comprehensive solution that streamlines everything from customer self-service to warehouse operations.
Making Advanced Solutions Accessible
Historically, advanced return solutions were only accessible to large brands. However, the company now offers its return management software as a SaaS solution for brands of all sizes, making efficient return management accessible to thousands of businesses worldwide.
Growing Network and Customer Base
Since its inception in 2019, Claimlane has grown significantly, starting with its first customer, GANNI. The company now includes notable brands like Hummel, Matas, Rains, and Søstrene Grene in its portfolio. Currently, more than 9,000 brands and shops are part of Claimlane’s network, working together to standardize and simplify returns and claims processes across the retail industry.
Expansion into the UK
With the support of Vendep Capital, which brings expertise in scaling SaaS businesses for rapid growth, the danish firm is set to expand into the UK market. The company has already established a new office in the UK, added new team members, and partnered with brands like The Hut Group, FFX, and Cult Furniture.
Timo Felin, Investment Director at Vendep Capital, expressed enthusiasm about supporting Claimlane’s global expansion, stating, “Customer centricity and ambition are driving forces in this team, and we look forward to seeing their vision for the B2B return handling space come to life.”
With this funding, the startup is well-positioned to enhance its service offerings and expand its reach, providing innovative solutions to the challenges faced by furniture and lifestyle brands in managing product returns and claims.
