Yamm, a company specializing in return and refund solutions, has announced the closing of its Pre-Seed investment round, led by Flat6Labs and joined by Judah Ventures and a group of strategic angel investors. Founded in 2023 by Sultan Al-Subhi, Mohammed Al-Shalati, and Hamada Al-Khaldi, the company aims to provide advanced technological solutions for managing returns, refunds, and logistics in a comprehensive manner. These solutions aim to improve the post-purchase experience for both customers and merchants, enhancing customer loyalty and trust in merchants.
Traditional online stores have faced numerous challenges regarding return and refund processes, as it can take up to 30 days for customers to receive their refunds after returning a product. This creates significant pressure on customer support teams, as approximately 70% of support inquiries are related to returns. This is where Yamm steps in to change the equation by offering innovative technologies that allow for instant refunds to customers before the returned products are received, significantly improving the customer experience and boosting loyalty. Merchants using Yamm’s solutions have reported a 30% increase in repeat purchases within three days of completing the return process, as well as a 35% rise in average cart value.
Yamm’s solutions are characterized by full automation, including automatic verification of customers’ bank accounts, customization of return reasons according to the store’s policies, and instant updates on order status, ensuring a transparent and smooth return process. This automation reduces the operational pressure on support, finance, and logistics teams while providing merchants with data-driven insights into customer return behaviors and trends, enabling them to enhance their services.
Since its launch in late 2023, Yamm has formed strategic partnerships with major logistics providers such as SMSA and Aramex, as well as integrating its platform with leading e-commerce platforms like Salla, Zid, Shopify, OpenCart, and Magento. In the upcoming phase, the company aims to expand its merchant base across Saudi Arabia and integrate with additional e-commerce platforms such as WooCommerce and Salesforce. Yamm’s future plans also include launching new products, including advanced analytics tools for merchants to better understand customer behavior and reducing the time it takes to return products to inventory to just three days, enhancing stock management efficiency and increasing profits.
Yamm aims to redefine the post-purchase experience in e-commerce for both consumers and merchants by offering advanced technological solutions that streamline return and refund processes. The company is poised to lead this market by delivering innovative and enhanced experiences that build trust between merchants and customers and drive sustainable growth in this traditional sector.
