Affirm to Acquire Returnly
Transaction Adds Online Return Solutions to Affirm’s Product Portfolio
Returnly serves more than 1,800 merchants, has helped process more than
“Over the last few years, alongside the rapid growth of online shopping, consumers’ expectations of accommodations for returns and exchanges have increased significantly,” said
Affirm’s acquisition comes as returns continue to be a source of increased costs and complexities for merchants.
“We started Returnly to fix the broken returns model that offered consumers and merchants nothing but downside and frustration,” said
The transaction is expected to close in Affirm’s fourth fiscal quarter ending
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.
Returnly is a leading provider of digital return experiences and post-purchase payments for direct-to-consumer brands. Returnly is the only return solution that lets customers get the right item before returning the wrong one. The result is a world-class shopping experience with an average consumer satisfaction score (CSAT) of 91%. Returnly takes the product return risk and offers merchants a turn-key solution around its financial technology that includes return management tools as well as hosted and fully brandable end-customer touchpoints like package tracking, online returns and exchanges and Green Returns. To learn more about Returnly’s solutions, please visit www.returnly.com.
Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders. CA residents: Loans by
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties and assumptions. In some cases, forward-looking statements may be identified by words such as "design," "expect," "may," "plan," "should," "will," “would,” or the negative of these terms or other similar expressions. All statements other than statements of historical fact are forward-looking statements, including statements regarding: the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; the ability to complete the transaction considering the various closing conditions; statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. These statements involve known and unknown risks, uncertainties and other important factors that may cause Affirm's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Risks, uncertainties and assumptions include the possibility that expected benefits of the transaction may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, Returnly’s business may not perform as expected due to transaction-related uncertainty or other factors; that the parties are unable to successfully implement integration strategies; and the other risks that are described in Affirm’s Quarterly Report on Form 10-Q for the fiscal quarter ended