Affirm Holdings acquired Returnly Technologies, Inc. for approximately $286.0 million (announced at approximately $300 million), a transaction completed in May 2021, structured as combination (cash and stock).
Returnly Technologies, Inc. operates in Platform capability expansion, is based in United States (with operations in Spain). On May 1, 2021, Affirm completed a merger with Returnly Technologies, a leader in online return experiences and post-purchase payments, acquiring the roughly 99% of shares it did not already own. Total consideration was approximately $286.0 million, made up of about $71.5 million in cash and roughly $214.5 million in Affirm common stock, plus escrowed shares treated as post-combination compensation. Returnly gives eligible shoppers an instant merchant credit upon initiating a return so they can reorder immediately, with Returnly assuming return risk and settling orders in real time. Affirm later wound the Returnly business down, entering a strategic returns partnership with Loop Returns in 2023.
Affirm acquired Returnly to address the full shopping journey by enabling seamless return experiences that drive loyalty and satisfaction, extending its platform beyond checkout into the post-purchase lifecycle. The deal also brought Affirm operations in Spain, an early step in its international expansion.
Advisory firms were not disclosed for this transaction.