A London tech start-up that helps retailers including Topshop and Gap deal with “serial returners”, on Wednesday sold a stake to Danish shipping giant AP Moller-Maersk.
The logistics firm’s Maersk Growth arm is investing to take a minority share in Holborn-headquartered ZigZag Global.
It is understood that Maersk Growth typically make investments of between £1 million and £5 million.
ZigZag is a software business that analyses the most cost-effective and quick way for retailers to deal with returns. Many fashion chains are grappling with shoppers that regularly buy multiple items, try them on at home, and send back what they don’t want.
The tech, which firms pay a monthly fee for, links consumers to carriers and warehouses across the world.
Al Gerrie, who grew up in Ilford and founded ZigZag in 2015, said the funding will be used to invest in more tech.
Oliver Finch, investment manager at Maersk Growth, said: “Returns are a huge, costly and often undermanaged component of the e-commerce experience.” He reckons ZigZag can help firms reduce spending.
