World News

Devolut leverages e-commerce growth in Latin America to develop reverse logistics tool on August 28, 2023 at 12:01 pm

Published

3 years ago

August 28, 2023

With the explosion of e-commerce during the global pandemic, companies not only had to adopt Amazon-like shipping skills, but also how to coordinate and manage returns.

In Latin America, the reverse logistics process “is a mess,” according to Agustin Shutte, founder and CEO of Devolut, which provides an end-to-end returns solution for e-commerce sellers.

“It’s dominated by traditional carriers who are not reliable, are super expensive and take forever to take the product back to the merchant,” Shutte told TechCrunch. “This leads to refunds taking 40 to 50 days. Developing a network of return points, like Happy Returns did in the U.S., is something completely unique that no one is doing.”

He started the Mexico-based company earlier this year with Emiliano Monge. This is their second startup together, having previously founded another logistics startup where they saw firsthand how inefficient the return process was.

Devolut is still very much in its early stages, having launched just three months ago. However, the company is already working with 20 B2B clients across three countries.

Y Combinator-backed Rever aims to modernize refunds and returns

Taking a nod from Happy Returns, Devolut enables sellers a returns option that doesn’t require boxes or labels through a network of what will be “city points,” where those who want to return merchandise can go, for example, a pharmacy or convenience store.

Along with that is software that fully automates the process and technology that assesses item conditions upon receipt. Buyers get a QR code that will be scanned by the clerk at the city point who then puts the item in a plastic bag, scans a preprinted return label and puts the item inside reusable bins, Shutte explained. In most cases, Devolut will be able to provide instant refunds and save merchants up to 50% in returns management costs.

Devolut’s returns dashboard. Image Credits: Devolut

While it is focused on returns, the company is also using AI to promote exchanges instead of refunds so that merchants can retain more revenue, Shutte said. Devolut plans to make money from a monthly software charge for the merchant, a per return charge for managing the process and charging a percentage for any upsells or cross selling.

One of the unique things is that Devolut essentially has government backing for its developing a returns ecosystem. Shutte said some countries, including Mexico, Brazil, Argentina and Colombia, have recently passed laws forcing merchants to take returns from online purchases.

“More importantly than that, is that Amazon and MercadoLibre are setting a new bar in terms of post-purchase experience,” he added. “Just like same- or next-day delivery changed the game in LatAm, now they expect the same experience from every direct-to-consumer brand. Whether the merchants like it or not, returns in LatAm are increasing, and clients are demanding a much better experience. Maybe even more relevant is the fact that it’s been widely proven that a good return experience generates up to 30% in revenues, so the ROI on a solution like ours is 50x to 60x.”

There are some other startups working on this reverse logistics problem, for example, Rever, Loop Returns, ReturnLogic, Seel and Sendcloud. However, Shutte said Devolut’s closest competitor is Reversso, a Chilean company providing each customer a custom portal to manage returns. The main differentiator, according to Shutte, being that Reversso is focused on software rather than an end-to-end solution, while Devolut will have that network of return points.

Today, the company announced that it raised $600,000 in pre-seed funding. Investors in the round include Seedstars International Ventures, FJ Labs, Far Out Ventures, Pareto 20 and Forum Ventures.

Devolut intends to further develop its AI-powered returns and exchange algorithms that generate product recommendations and instant returns, eventually for refunds via its own digital wallet. It is also testing its tool with Sally Beauty’s 240 stores in Mexico.

“Latin America is a region where commerce is growing the most, so we see our solution coming as the next wave: first it was digital payments, second, same-day delivery and now the third wave is post-purchase,” Shutte said. “We see how big the market could become. In the U.S., people buy around 50 to 60 purchases per year, however, in LatAm it is two per year. That could grow 7x compared to today, so that is an enabler to grow.”

Deep tech in Latin America and the Caribbean is set to skyrocket

Devolut enables merchants a returns option that doesn’t require boxes or labels. It also provides a network of “city points” where consumers can go to return merchandise.

Business

GLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER

Published

2 weeks ago

May 16, 2026

Bolanle Media Staff

FOR IMMEDIATE RELEASE

Theme: “People, Planet, and Profit in the Age of AI and Innovation”

London, United Kingdom — The Global Sustainability Summit (GSS) is officially back for its landmark 5th Edition, continuing its legacy as one of the leading international platforms driving sustainable development, climate action, ethical investment, innovation, and global collaboration.

Convened annually at the prestigious British Parliament, House of Lords, Palace of Westminster, by Ambassador Canon Chinenem Otto, the Summit has, over the last four years, successfully fostered international dialogue and partnerships that have contributed to the advancement of global sustainability goals, the establishment of sustainability-focused ministries, departments and policy structures across national and subnational governments, and the attraction of major investors into sustainable development projects, corporations and emerging economies.

This year’s summit, themed “People, Planet, and Profit in the Age of AI and Innovation,” will explore how emerging technologies, responsible leadership, sustainable finance, innovation, and global partnerships can shape a more inclusive, resilient and environmentally conscious future.

The 5th Edition promises to be the most impactful yet, bringing together world leaders, policymakers, diplomats, investors, academics, innovators, climate experts and youth leaders from across the globe to discuss actionable solutions toward achieving a sustainable and equitable future.

Among the distinguished speakers, delegates and honorees already lined up for the Summit are:

• His Excellency Mallam AbdulRahman AbdulRazaq — Executive Governor of Kwara State, Nigeria and Chairman of the Nigeria Governors’ Forum

• His Excellency Senator Prince Bassey Otu — Executive Governor of Cross River State, Nigeria

• Ambassador Patricia Espinosa Cantellano — Former Executive Secretary of UN Climate Change (UNFCCC) and Former Foreign Minister of Mexico

• Lord Marvin Rees, Baron Rees of Easton OBE — Member of the House of Lords, United Kingdom

• Hon. Neema K. Lugangira — Secretary-General of Women Political Leaders (WPL), Brussels and Former Member of Parliament

• Her Excellency Dr. Netumbo Nandi-Ndaitwah — President of the Republic of Namibia

• His Excellency Nangolo Mbumba — Former President of Namibia

• Former President of Tanzania

• Her Excellency Ambassador Professor Olufolake AbdulRazaq — First Lady of Kwara State, Nigeria and Chairperson of Nigeria Governors’ Spouses Forum

• Your Excellency Dr. Dikko Umar Radda, PhD, CON — Executive Governor of Katsina State and Chairman of the Northwest Governors Forum, Nigeria

• Hon. Sam Shafiishuna Nujoma — Governor of Khomas Region, Namibia

• H.E. Mr. Veiccoh Nghiwete — High Commissioner of the Republic of Namibia to the United Kingdom

• Her Excellency Ms. Macenje “Che Che” Mazoka — High Commissioner of Zambia to the United Kingdom

• Ms. Danielle Newman — Partner Lead, ICT, World Economic Forum

• Leanne Elliott Young — Co-founder, Institute of Digital Fashion & CommuneEast

• Ms. Chloe Russell — Producer & Presenter, Art, Science and Nature

• Professor Marie-Claire Cordonier Segger — University of Cambridge & University of Waterloo

• Dr. Alexandra R. Harrington — IUCN World Commission on Environmental Law (WCEL)

• Professor Payam Akhavan — Massey College, University of Toronto

• Mr. Mallai C. E. Sathya — President, Dravida Vetri Kazhagam and International Movement for Tamil Culture Asia

The Summit will feature high-level panel discussions, strategic investment conversations, sustainability awards, policy dialogues, innovation showcases, youth engagement sessions and international networking opportunities focused on climate resilience, ethical financing, food-water-energy sustainability, circular economy, artificial intelligence, diplomacy and sustainable development.

Speaking ahead of the Summit, Convener Ambassador Canon Chinenem Otto noted:

“As the world rapidly evolves through artificial intelligence and technological innovation, we must ensure that sustainability remains people-centered, environmentally responsible and economically inclusive. The Global Sustainability Summit continues to serve as a bridge connecting governments, institutions, innovators and investors to accelerate practical sustainability solutions globally. Our fifth edition is not only a celebration of progress made over the years, but also a renewed call for global collaboration and actionable impact toward achieving the Sustainable Development Goals and Net Zero ambitions.”

The Global Sustainability Summit continues to position itself as a catalyst for transformative partnerships and sustainable global progress, reinforcing the urgent need for collective action toward a more resilient and sustainable future.

More announcements regarding additional speakers, partners and summit activities will be unveiled in the coming weeks.

News

US May Completely Cut Income Tax Due to Tariff Revenue

Published

6 months ago

November 30, 2025

Bolanle Media Staff

President Donald Trump says the United States might one day get rid of federal income tax because of money the government collects from tariffs on imported goods. Tariffs are extra taxes the U.S. puts on products that come from other countries.

What Trump Is Saying

Trump has said that tariff money could become so large that it might allow the government to cut income taxes “almost completely.” He has also talked about possibly phasing out income tax over the next few years if tariff money keeps going up.

How Taxes Work Now

Right now, the federal government gets much more money from income taxes than from tariffs. Income taxes bring in trillions of dollars each year, while tariffs bring in only a small part of that total. Because of this gap, experts say tariffs would need to grow by many times to replace income tax money.

Questions From Experts

Many economists and tax experts doubt that tariffs alone could pay for the whole federal budget. They warn that very high tariffs could make many imported goods more expensive for shoppers in the United States. This could hit lower- and middle‑income families hardest, because they spend a big share of their money on everyday items.

What Congress Must Do

The president can change some tariffs, but only Congress can change or end the federal income tax. That means any real plan to remove income tax would need new laws passed by both the House of Representatives and the Senate. So far, there is no detailed law or full budget plan on this idea.

What It Means Right Now

For now, Trump’s comments are a proposal, not a change in the law. People and businesses still have to pay federal income tax under the current rules. The debate over using tariffs instead of income taxes is likely to continue among lawmakers, experts, and voters.

News

Epstein Files to Be Declassified After Trump Order

Published

6 months ago

November 20, 2025

Bolanle Media Staff

Former President Donald Trump has signed an executive order directing federal agencies to declassify all government files related to Jeffrey Epstein, the disgraced financier whose death in 2019 continues to fuel controversy and speculation.

The order, signed Wednesday at Trump’s Mar-a-Lago estate, instructs the FBI, Department of Justice, and intelligence agencies to release documents detailing Epstein’s network, finances, and alleged connections to high-profile figures. Trump described the move as “a step toward transparency and public trust,” promising that no names would be shielded from scrutiny.

“This information belongs to the American people,” Trump said in a televised statement. “For too long, powerful interests have tried to bury the truth. That ends now.”

U.S. intelligence officials confirmed that preparations for the release are already underway. According to sources familiar with the process, the first batch of documents is expected to be made public within the next 30 days, with additional releases scheduled over several months.

Reactions poured in across the political spectrum. Supporters praised the decision as a bold act of accountability, while critics alleged it was politically motivated, timed to draw attention during a volatile election season. Civil rights advocates, meanwhile, emphasized caution, warning that some records could expose private victims or ongoing legal matters.

The Epstein case, which implicated figures in politics, business, and entertainment, remains one of the most talked-about scandals of the past decade. Epstein’s connections to influential individuals—including politicians, royals, and executives—have long sparked speculation about the extent of his operations and who may have been involved.

Former federal prosecutor Lauren Fields said the release could mark a turning point in public discourse surrounding government transparency. “Regardless of political stance, this declassification has the potential to reshape how Americans view power and accountability,” Fields noted.

Officials say redactions may still occur to protect sensitive intelligence or personal information, but the intent is a near-complete disclosure. For years, critics of the government’s handling of Epstein’s case have accused agencies of concealing evidence or shielding elites from exposure. Trump’s order promises to change that narrative.

As anticipation builds, journalists, legal analysts, and online commentators are preparing for what could be one of the most consequential information releases in recent history.