ZigZag Global successfully raises £135,000
Congratulations to our friends at ZigZag Global, who have successfully raised £135,000 on CrowdCube. The software based International returns solution is designed to help brands and retailers resell unwanted stock in overseas markets, generating cash recovery not returns.
ZigZag’s technology links retailers with warehouses and couriers, distributing products to where the demand is. Goods are graded and resold product locally via marketplaces, without the need to ship goods back around the world.
ZigZag CEO and Co-Founder, Al Gerrie explains “Returns rates are up to 40% of all ecommerce in markets such as Germany”.
The ZigZag premise is that the stock is returned by the consumer to an address in their own country and is then resold to attract the highest return in the process wiping out the cost of International courier charges. For instance if a UK sellers has a potential return from the US, it’s cheaper to have the product resold in the US than returned to the UK and perhaps then reshipped to the US a second time.
Already offering solutions in France, Germany, the UK, the USA and Australia, ZigZag are extending their solution to over 20 countries worldwide to support the growth in cross-border trade. ZigZag’s focus is on improving the customer experience. By speeding up the returns process, retailers are able to refund and exchange more quickly, keep postage costs lower, grade and resell goods locally.
Al tells us that “The feedback we have had so far has been very encouraging. It is great to see so many retailers getting behind the ZigZag’s model, because it shows a real demand in the industry for a global returns solution,. Originally we were only looking for a £100,000 investment, so to have raised £135,000 has exceeded our expectations and will go a long way to help us extend the solution worldwide”.
As well as being nominated for an award, ZigZag has been invited to speak at the renown World Retail Congress in Rome on the 9th and 10th September. The company will also be exhibiting at the eDelivery Conference in October and the world’s largest startup event, Web Summit, in November.
If you would like to find out more about ZigZag Global and discover how their returns solution can work for your brand, email Al Gerrie or call +44 (0)7787 891546.