Yamm secures pre-Seed round led by Flat6Labs

Yamm secures pre-Seed round led by Flat6Labs

News

• 10 October, 2024

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• Saudi Arabia-based logistics startup Yamm has closed its Pre-Seed funding round at an undisclosed amount.
• The round is led by Flat6Labs, with participation from Judah Ventures along with other angel investors.
• Founded in 2023 by Sultan Al-Subhi, Mohammed Al-Shalati, and Hamadah Al-Khaldi, Yamm is designed to simplify the post-purchase experience for both consumers and merchants, offering an end-to-end solution for managing returns, refunds, and logistics.
• Yamm will use  to enhance plans to grow its merchant base across Saudi Arabia, launch new product features, and further enhance the platform’s value for retailers.

Press release:

Yamm, a startup specialising in automated return and refund solutions, has closed its Pre-Seed funding round, led by Flat6Labs, with participation from Judah Ventures and a consortium of strategic angel investors.

Founded by Sultan Al-Subhi, Mohammed Al-Shalati, and Hamadah Al-Khaldi, Yamm offers a comprehensive end-to-end solution for managing returns, refunds, and logistics, designed to simplify the post-purchase experience for both consumers and merchants. By leveraging advanced automation and integrations with key service providers, Yamm addresses long-standing challenges in the return and refund process, including streamlining the refund and shipping cycles and removing other operational inefficiencies. 

Merchants often struggle with refund delays, which can extend up to 30 days and cause friction with customers. In fact, 70% of customer complaints are related to returns and refunds. Yamm resolves these issues by offering instant refunds to consumers, even before the return is processed, significantly improving customer satisfaction and loyalty. Merchants using Yamm have seen a 30% increase in repurchase rates within three days and a 35% boost in average basket value. 

Yamm’s solution features automated bank account verification, customisable return policies, and real-time status updates, ensuring a smooth and transparent return process. The platform’s full automation significantly reduces operational pressure on support, finance, and logistics teams, while also providing data-driven insights into return behaviours and trends. 

Since its launch in late 2023, Yamm has established key partnerships with logistics providers such as SMSA and Aramex and is integrated with e-commerce platforms like Salla, Zid, OpenCart and Shopify. The company is poised for growth, with plans to focus expansion on its growing merchant base across Saudi Arabia and integrate with additional e-commerce platforms, including WooCommerce and Salesforce. Yamm is also set to launch new product features, including advanced merchant analytics and restock functionality, further enhancing the platform’s value for retailers.

Yamm aims to redefine and lead the post-purchase market for both consumers and merchants, ensuring seamless returns and instant refunds that build trust and drive growth in otherwise archaic segments.