Refundly has officially launched to help shoppers track online returns and know when refunds arrive. With billions of dollars in refunds going unreturned each year, Refundly helps consumers ensure they get their money back automatically.
Designed by veterans in retail, e-commerce, entertainment, and tech, Refundly tracks and manages online returns across all U.S. retailers and alerts users the moment their refund hits their credit card.
“Each year, consumers return hundreds of billions in merchandise, but a portion of that money never makes it back to them,” said Lindsay Goffman, co-founder and CEO of Refundly. “The system was built to send purchases from retailers to shoppers – not the other way around. Refundly puts the power back in the hands of consumers, while helping retailers strengthen relationships with their customers.”
Refundly uses proprietary AI to scan users’ email receipts, identify returns, and track each step, from initiation to reimbursement.
“The scale and complexity of tracking returns across hundreds of retailers make manual monitoring impossible, creating an ideal application for AI automation,” CTO Mark Mucchetti said.
In the coming months, Refundly will expand to offer retailers new engagement tools — such as exclusive, personalized promotions once refunds are processed – turning a frustrating experience into an opportunity for retention and loyalty.
According to Capital One’s 2024 Shopping Report, Americans spent $1.3 trillion online, returning $362 billion in merchandise, up nearly 40% year-over-year. The National Retail Federation estimated 19.3% of online sales will be returned in 2025, and the practice of “bracketing” (ordering multiple sizes or colors with the intent to return) is rising across all demographics, especially among younger shoppers.
Set against this backdrop, during its stealth phase, Refundly analyzed return and refund patterns across 120 major online retailers and found a 7.5% error rate— meaning more than seven in every hundred returns contain mistakes such as incorrect fees or missing refunds. Overall, 4% of refund amounts were never returned, representing a potential $14 billion unreturned consumer funds.
“Refundly is a win-win,” said Mina Fader, managing director of the Baker Retailing Center at the University of Pennsylvania. “Consumers get the refunds they deserve, and retailers turn one-time buyers into repeat customers. With reports showing that consumers are more likely to spend again once a refund is confirmed, Refundly is a bridge to a very important gap.”
The company was inspired by Goffman’s experience juggling online returns as a working mom, manually tracking them in spreadsheets, only to discover missing refunds. She co-founded the company with her husband, Mark Goffman (COO), and Mucchetti.