We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Parcel delivery startup Veho taps new funding to acquire returns specialist

Parcel delivery startup Veho taps new funding to acquire returns specialist

Buying QuikReturn will expand both product offering and geographical expansion, Veho says.

veho Screen Shot 2022-03-21 at 4.24.11 PM.png
March 21, 2022
Supply Chain Quarterly Staff
No Comments

Crowdsourced package delivery tech firm Veho is continuing to grow fast, unveiling the acquisition of reverse logistics startup QuikReturn just a month after landing $170 million in venture capital.

Terms of the deal were not disclosed.

New York-based Veho said the move accelerates both its Veho Returns product offering and its geographical expansion. QuikReturn serves e-commerce brands and their customers in New York City and the surrounding area.

The move is the latest example of logistics firms investing in their returns capabilities. In February, contract logistics provider DHL Supply Chain said it had selected ReverseLogix as its primary solution for managing e-commerce returns.

Veho is now leveraging its $1.6 billion valuation to buy QuikReturn, which offers package return technology that lets customers schedule a pick up from their home with one-hour pickup windows. The firm then ships the returned items back to the e-commerce brands for a fast inventory turnaround.

Following the deal, QuikReturn co-founder and CEO Ethan Susser will lead growth for the Veho Returns product, which Veho ultimately plans to integrate into its delivery technology platform to provide a 'full-cycle offering' for e-commerce brands (seamless delivery and returns).

"We founded QuikReturn with the vision to reimagine the returns experience, and reverse logistics as a whole, for e-commerce companies and their customers – an area that is sorely overlooked by the logistics industry," Susser said in a release. "Veho's scale, speed of execution and focus on customer experience will allow us to realize our vision faster and bring an incredible doorstep pickup experience to every market in the U.S." 

 

E-Commerce
KEYWORDS QuikReturn Veho
  • Related Articles

    Veho gains $170 million backing for crowdsourced parcel delivery platform

    3PL Central taps fresh investor funding to acquire fellow WMS vendor

    Auctane adds Spanish parcel tech startup Packlink to its shipping stable

Recent Articles by Supply Chain Quarterly Staff

Companies to grow investments in energy-transition solutions, emissions reduction

Cargo imports forecast to sink near three-year low in February

Air cargo demand slumped in 2022 after “extraordinary” levels in 2021

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Forecasts call for freight rate slumps in 2023

  • Projected U.S. recession in early 2023 will soften freight market

  • Inflation drops again as interest rate hikes hit home, NRF says

  • How to avoid the next crisis: A new approach to supply chain agility

  • New Jersey truck fleet says Freightliner tractors will deliver safety as well as freight

Featured Video

20221107korber large vs

Enhancing Customer Experience with Your Supply Chain Strategy

Viewer Contributed
With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

FEATURED WHITE PAPERS

  • Guide to Pallet Rack Safety

  • 3PLs: Complete Orders Faster with Flexible Automation

  • A shipper's guide to navigating post-pandemic holiday freight

  • THE NEW WAY TO WAREHOUSE: 4 Innovations in Automation & Robotics to Boost Warehouse Productivity

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing