Returns management platform ZigZag Global has been bought by tax-free shopping and added value payment services provider Global Blue.
The acquisition will allow ZigZag to cross-sell its solutions into Global Blue’s merchant network, as well as integrate with Global Blue’s payments and data capabilities. It will also see Global Blue fund further expansion.
ZigZag’s returns technology is now used by 100 international ecommerce retailers’ and the company saw growth of more than 500% of processed returns in 2020 versus 2019.
The ZigZag platform offers a paperless alternative to returns labels through an online returns portal that boasts a range of shipping options including post office, parcel shops, lockers, and collection from home, as well as allowing consumers to exchange products.
“The impact of COVID-19 has accelerated the shift to online we were already seeing in the market,” says Al Gerrie, founder of ZigZag Global, who will remain as CEO. “It is now more important than ever that retailers invest in their returns proposition and keep pace with consumer demand.”
The transaction is expected to complete on or before the end of the month.