Returns consolidator ZigZag Global receives millions in investment
London-based startup Zigzag Global, whose SaaS platform allows retailers to efficiently manage global returns, has been at the heart of a multi-million-pound funding round.
ZigZag received funding from Edinburgh-based private equity firm Circularity Capital, who led the funding round. Other investors included Plug And Play Ventures, based in Silicon Valley.
As eCommerce returns grow by up to 20% per year, the startup supports the return, consolidation and resale of products, grading items and funneling them to different points - whether that’s resale, recycling, destruction, redistribution or refurbishment.
The generous funding round will allow ZigZag to extend its significant client list, which already includes names such as Selfridge’s and Topshop.
Circularity Capital offer a hands-on approach to investment, and will offer extensive support to the ZigZag management team. Circularity partner, Ian Nolan, joins the ZigZag board.
Nolan said: "ZigZag has developed a powerful solution for retailers to address the growing challenge posed by eCommerce returns.
“Our investment in ZigZag is highly aligned with Circularity's focus on using the circular economy to identify opportunities to drive financial value creation in parallel with positive environmental and societal impact."
Al Gerrie, CEO and founder of ZigZag, said: "Circularity Capital's investment will play a key role in fueling our market growth. In addition to allowing us to reach more customers, the funding will allow us to further develop our product offering to deliver even more value for retailers.
“We placed significant emphasis on bringing on board an investor who brings more than just capital to the table - Circularity Capital's specialist network and insight in the circular economy was a great fit for us in this regard."