Delivery Platform Veho Acquires Logistics Firm QuikReturn

eCommerce delivery firm Veho has acquired QuikReturn, a reverse logistics startup serving eCommerce brands and customers in the New York City area.

“The acquisition further accelerates both Veho Returns product offering as well as its geographical expansion, and marks another step to scale Veho’s doorstep returns capabilities throughout the U.S.,” the company said in a Thursday (March 17) press release.

This marks Veho’s first acquisition after raising $300 million in back-to-back rounds, one last month, the other in late 2021, which brought the company’s valuation to $1.6 billion.

Read more: Logistics Startup Veho Raises $170M Amid ‘Permanent Shift Toward Residential Delivery’

QuikReturn facilitates pickups using its urban logistics platform, shipping returned items back to the e-commerce brands for a quick inventory turnaround.

The company’s software and doorstep pickups platform will be integrated into Veho as part of the acquisition, to be deployed in major metro markets. Veho says it also plans to “significantly scale” QuikReturn’s offering in New York City under the Veho brand. QuikReturn’s staff will integrate into the Veho team and continue its work in the doorstep returns field.

Meanwhile, QuikReturn co-founder and CEO Ethan Susser will lead growth for the Veho Returns product, which Veho plans to integrate into its delivery technology platform to create a ‘full-cycle offering’ for e-commerce brands.

“We have been incredibly impressed with the technology and carbon-neutral pickup platform the QuikReturn team has developed — both of which are complementary to Veho’s offering,” said Itamar Zur, co-founder and CEO of Veho.

Zur added that marrying the two companies’ services “will allow us to provide an even more exceptional service, and is an important step toward making doorstep returns a key driver of growth and customer retention for e-commerce brands.”

Learn more: Logistics Tech Unicorn Helps eCommerce Brands Crack Next-Day Delivery Challenge

PYMNTS spoke to Zur in February about the race between eCommerce sites to shrink their delivery windows.

“I used to think delivery should take five to seven days until somebody offered me next day delivery,” he said. “Now they’re offering to reroute the package from my office to my apartment. When I know this is the experience, I never want to go back to five to seven days.”