New Paradigm Investment (Co-CEOs Sang-Seung Bae and Je-Hyeon Park) announced on the 28th that it had made a seed investment in Refundy Co., Ltd. (CEO Shin-Wook Park) , a startup that has developed an AI refund automation solution for global sellers.
Refundy provides an AI-based solution that automates the process of refunding discounts and cashbacks for purchasing agent sellers operating in overseas open markets. Its unique feature is that it tracks price fluctuations of products sold in real time through its own technology and automates the entire process so that sellers can receive refunds without any additional procedures.
According to Refundy, since introducing its solution, the time it takes sellers to apply for a refund has been reduced from an average of one hour per day to one click, and the refund success rate has improved from 20% to 80%. The number of paying customers has currently exceeded 3,000, and the retention rate is at 85%.
Refundy is accelerating its expansion into the global market by operating multilingual services based on Japanese and English. In particular, it is pursuing evolution into an 'AI seller agent' with the goal of automating all aspects of seller work beyond simple refund services.
CEO Park Shin-wook said, “This is a solution that helps global sellers find hidden revenue that they are missing, and can automate more than 90% of repetitive tasks.” He added, “With this investment, we will begin to fully advance into major markets such as Japan and the U.S.”
Park Jae-hyun, co-CEO of New Paradigm Investment, explained the investment background, saying, “Refundy is solving real problems that sellers face in the global e-commerce environment with AI,” and “We have confirmed the potential for rapid growth as an early-stage startup in terms of technological completeness and market response.”
- See more related articles
You must be logged in to post a comment.