Startup aims to immediately refund money after online return
California-based startup Returnly, which aims to refund customers' money immediately after returning an online purchase, raised $3.2 million (₹21 crore) in seed funding on Thursday. Returnly puts customers' money in an online wallet that can be used for repurchases from the same brand that has been returned. Once the retailer receives the returned item, money is refunded in customer's account.