Claimlane, a startup leading returns and claims management platform for brands and retailers that sell physical products, announced a €1.8 million seed round led by Vendep Capital to accelerate our growth in the UK and mainland Europe. The fundraising will enable them to accelerate their product vision to help furniture and lifestyle brands simplify and automate their complex backend processes related to handling product returns and warranty claims.
Claimlane has come a long way since 2019 when they scrambled to develop their initial product to partner with their first customer, GANNI. Since then, they’ve welcomed 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.
“Today, brands and retailers still largely rely on spreadsheets and emails to manage the processes around product returns, faulty products, and delivery issues. This includes all processes; Internal, with consumers, warehouses, b2b partners, manufacturers and distributors. We aim to automate communication and processes throughout the entire value chain and deliver excellent experiences for all stakeholders. It’s a massive opportunity,” said Anders Sommer-Larsen, CEO at Claimlane.
The fundraise follows a strong 2023 where Claimlane more than doubled its revenues and further acceleration in 2024 after recently partnering with brands such as Matas, Silver Cross, and Tonies.
The investment is going to finance Claimlane’s international push. Building on their leading position in Denmark, Claimlane is expanding across Europe and the UK in particular. Claimlane has recently opened their UK office, hired the first boots on the ground, and closed their first UK customers including FFX, The Hut Group and Cult Furniture.
Additionally, Claimlane plans to build out their platform to integrate deeper into brands’ backend systems which will allow for further automation and time savings.
“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,” added Timo Felin, Investment Director, Vendep Capital.
Read the orginal article: https://www.eu-startups.com/2024/05/copenhagen-based-claimlane-raises-e1-8-million-to-simplify-product-claims-and-complex-return-processes/
