Meet Refundid's CEO & Co-founder, Brad Karney

Welcome to our first ever Q&A series with the team over here at Refundid! For our very first feature, we have non other than our co-founder and CEO,  Brad Karney. Brad is an avid Liverpool F.C. supporter and ecommerce enthusiast, before co-founding Refundid he was… can you guess? Pursuing a career in Investment Banking.

In 2020, he had been witnessing the ongoing refund and returns problem in the Australian eCommerce industry and was motivated to find a solution for it. Enter Refundid. He along with co-founders Judd Katz, Joel Aaron and Ilan Kessler founded the company, which launched a year later in February, 2021. Since then, Refundid has and is continuing to partner with some of Australia’s most popular brands and retailers in the country. Brad’s on a mission to change consumers' refund experience, he believes every online customers should never have to worry about how long it'll take to get their refund back. Now every time a customer shops online at one of Refundid’s partnered retailers, they can purchase with confidence knowing if they need to make a return, their refund will be paid back instantly with Refundid.

You can thank Brad later! ‍

What is the vision of Refundid?

For customers to be able to shop confidentially online and never have uncertainty about when they will get their refund if they decide to return. Ultimately, the vision is that customers will look out to see if a retailers offers Refundid before making a purchase online. ‍

Can you give us some insight into your business background? ‍

Prior to Refundid, I spent most of my time across Finance and Investment Banking. During my time at uni, I worked full-time at JP Morgan, mostly focusing on JP Morgan’s financial reporting and analysis. What my Linkedin profile wont tell you is that the skills learnt here have been applied to how Refundid works with retailers to improve their P&L through increased recycled revenue and reduced costs with refund processing. Following that period, I shifted into Investment Banking where I would work with companies and advise them on M&A, equity and debt capital raise processes. ‍

Tell us about your most recent merchant sign up milestone.‍

After just about a year in market, we have managed to launch over 90+ brands across Australia. It has been incredible to see the results we have delivered across the board. Some of the more recent brands that have joined the Refundid community include Adore Beauty, PE Nation and Maurie & Eve. ‍

What upcoming trends do you see in the retailer market?‍

I think that retailers have a challenge ahead to gain customers as acquisition costs rise and customers become more price conscious in a down market. A shift to retention and creating the most valuable long term relationship with your existing customer base may be the most strategic and economical investment. The question will be how can retailers create a brand / product offering that influences or gives confidence to the customer to purchase at your brand rather than (1) a competitor or (2) other discretionary offers. ‍

Why should a customer use Refundid to make an online return?‍

Instead of waiting to take your return to the post office, for it to finally arrive back at the retailer, for it to be processed by the retailer and then for it to go through bank processing times, Refundid will give you your money back straight away. How good! Rather than anxiously waiting weeks to get your refund back, when you choose Refundid you’ll get your money back in seconds. ‍

Lastly, and it’s a questions everyone is dying to know, what’s your star sign?‍

Cancer (unsure what that means)