Last week, Retino successfully entered the largest Czech e-commerce platform, Shoptet. 100 e-shops activated Retino in the Shoptet “marketplace” within just the first 19 minutes. One week since launch, Retino has tripled the volume of its business and is planning expansion to new international platforms. For this the company now seeks an investment round, which it hopes to obtain on the Crowdberry platform.
The Czech company Retino developed a software tool that simplifies the complaint and returns process for e-shops and their customers. It has transformed a manual and time-consuming complaint process with high risk of error into an automated process that can save up to 60% of the time and costs associated with complaints and returns. Retino brings communication and customer service together in a single interface, making the complaint process user-friendly for both e-shops and shoppers, increasing customer loyalty and the likelihood of repeat purchases.
Since last spring, when the company launched its service, Retino has already processed thousands of complaints and returns. The feedback from e-shops is positive primarily because it significantly streamlines the process for e-shops and increases customer satisfaction, retention and repeat purchases.
Retino has been acquiring its customers mostly by direct sales since first entering the market. This has changed last Tuesday, when the company launched its extension for Shoptet, one of the company’s first external partners. The most popular e-shop platform for the simple creation of e-commerce solutions now allows its e-shops to start using Retino within “one click”, without any technical issues associated with integration. Shoptet is today actively used by over 15,000 e-shops out of a total of 42,000 e-shops in the Czech Republic.
“We have entered the second phase and we are moving our distribution model forward. In just a few days, our business has tripled,” says Retino CEO Petr Boroš. The first 100 e-shops activated the service on Shoptet within the first 19 minutes following launch. After one week on Shoptet, Retino processes millions of online orders, from which customers of e-shops can submit their complaints and returns requests.
“After the last year’s participation in Central Europe’s first accelerator StartupYard and market entrance last spring, we made our first step into the wider market by partnering with the country’s largest e-commerce platform. Next year, we are planning to replicate our success with Shoptet on global e-commerce platforms such as Magento,” says Boroš. For expansion onto international platforms, which are often incomparably larger than local ones, the company will need additional capital to grow. For this reason, it is currently starting an investment campaign in cooperation with Crowdberry.