Returns specialist BuyBay has received a two million euro grant from the European Commission. The grant falls under the 'Horizon 2020' programme, intended to boost European innovation.
BuyBay focuses on selling returned products. The returns specialist optionally also handles the logistics process - from storage to distribution - for online shops, brands and distributors. Products initially written off are thereby given a second chance.
With the capital injection, BuyBay plans to expand further in Europe. Last year, it moved into a new warehouse in Wijchen, near the German border. From Wijchen, it can quickly serve both the Dutch and German markets. BuyBay previously raised an investment to enable expansion into Germany. The German market is now one of the most important markets for the returns specialist.
