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Brazil’s Genius Returns Reaches USD $1.1M Valuation After Raising Undisclosed Amount

Genius Returns is a reverse logistics platform focused on optimizing exchanges and returns in e-commerce. The startup provides different channels for the customers, allowing them to choose between taking the product to a nearby physical store or having the product picked up by a courier. The platform also features a messaging system for tracking requests and deliveries, as well as a 24-hour express service.

Their latest funding round had the participation of Bossanova Investimentos, GV Angels and K&K Partners.

“We are very happy with the funding received and with the expansion of Genius Returns in Brazil. The reverse logistics sector is one of the fastest growing, especially with the constant increase in the volume of online purchases in the country. We were born to simplify exchanges and returns, making this experience more satisfying for consumers and less costly and sensitive for companies, and, with these resources, we will seek to further raise the quality of our solutions”, said Mauricio Cwajgenbaum, CEO and Co-founder of Genius Returns.

The startup's solutions are important for the market, since 75% of SMEs in Brazil have the expansion of online sales as their main growth strategy, according to a survey by Nathan Associates.