Strong growth for the aftermarket platform Reclaimit
With an Annual Recurring Revenue (ARR) growth of over 70%, profitability, new growth financing, and more than 30 new customers going live during the year, Swedish company Reclaimit is one of the fast-growing entities in the Software as a Service (SaaS) world.
The significant growth of e-commerce in recent years has hardly escaped anyone's notice. In its wake, there has been a pronounced increase in the demand for aftermarket services, an area that includes returns, complaints, repairs, regress, exchanges, and everything else that is part of the customer journey and experience after a purchase – whether it occurs online or in a physical store.
Reclaimit offers an automated, comprehensive solution for the entire aftermarket, enabling merchants to save time and money by avoiding manual handling while providing more satisfied customers and a higher lifetime value. Additionally, merchants gain valuable data and insights about customers, products, logistics, and delivery, contributing to a significantly more sustainable trade. This is achieved by helping merchants identify and address factors leading to excessively high rates of unnecessary returns and by simplifying the return process, preventing customers from keeping unwanted products that would later be discarded, thereby extending the overall lifespan of products.
It is evident that an increasing number of merchants both demand and appreciate such a solution. In 2022 alone, Reclaimit added over 30 new merchants and now assists over 600 brands in growing globally and locally through an improved aftermarket experience. Among the new customers are large established players such as Coop Norge, Cervera, BR Leksaker, Salling, and Gardenstore, as well as expansive and niche Direct to Consumer (D2C) actors like Understatement, Onepiece, By Sofia Wistam, Bemz, C'est Normal, Wakakuu, and many more.
It feels fantastic that we have gained the trust to bring so many new customers live during the year. It also shows a great demand for our solution, which we also notice in increased demand and direct inquiries from merchants in both Sweden and other countries. More and more people are becoming aware of how crucial the aftermarket experience is for today's fiercely competitive commerce," says Reclaimit's CEO, Wilhelm Hamilton.
In 2022, Reclaimit has significantly scaled up with an ARR growth of +70% without consuming any capital. Besides achieving profitability, they have secured 10 million SEK in new financing from the existing owner, Spintop Ventures, in the fall.
In summary, the survey clearly shows how crucially important a good return experience is for business and long-term customer loyalty.
Now, we have the conditions in place to continue this successful journey. In 2023, we will invest in continuing to develop our functionality, bring even more merchants on board, and strengthen our strong team with several new top talents," says Wilhelm Hamilton.