Engagement — Add-on Due Diligence
Code & Co. provides AI & Tech Due Diligence to Shippingbo, a portfolio company of Main Capital Partners ahead of the acquisition of Baback, a Strasbourg-based SaaS provider of returns, exchanges, and parcel tracking solutions for e-commerce merchants.
Shippingbo, a French provider of e-commerce logistics software, has announced the acquisition of Baback, a specialized SaaS provider of highly complementary post-purchase management solutions for e-commerce merchants.
Scope of work
Code & Co. advised Main Capital Partners and its portfolio company Shippingbo on AI & Tech Due Diligence through an evaluation of Baback's post-purchase platform, covering its product offering, product KPIs, roadmap, and the ecosystem of integrations that anchor the platform in daily merchant operations. Baback's data and AI capabilities were a key DD focus, showcasing features already in production, AI-assisted engineering practices, and plans for future machine-learning initiatives.
Code & Co. further examined the underlying architecture, infrastructure and deployment, technology stack, resilience and business continuity, cyber security, open-source licensing, and technical debt, with a focus on the feasibility of consolidating hosting onto the acquirer's cloud estate. The engagement concluded with an analysis of Baback's engineering team and organization, software development lifecycle, and quality management.
About Baback
Founded in 2022 by Raphaël Touati and Benoît Tallandier and based in Strasbourg, France, Baback is an interface specialized in end-to-end post-purchase management for Shopify merchants. Baback automates the entire returns process, encourages exchanges over refunds, and delivers an exceptional customer experience that drives loyalty. The platform combines a self-service returns portal, smart exchanges, omnichannel in-store returns, 3PL logistics integrations, and transport. Baback supports more than 260 brands, including Polène, Soeur, Balzac Paris and Eden Park. To learn more, visit baback.co.
About Shippingbo
Headquartered in Toulouse, France, Shippingbo develops a SaaS platform specialized for e-commerce logistics, combining Order Management (OMS), Warehouse Management (WMS) and Transport Management (TMS). The solution is offered as an integrated suite or as standalone modules to fit existing organizations and systems. It covers the order-to-delivery flow: unifying orders and inventory across all channels, orchestrating warehouse fulfillment, shipping through integrated carriers, generating labels, providing shipment tracking and incident handling, as well as managing returns. Designed for scalability and interoperability, the platform integrates with ERP, CMS, marketplaces, existing WMS/OMS/TMS systems and partner networks through standard connectors and an open API. To learn more, visit shippingbo.com.
About Main Capital Partners
Main Capital Partners is a leading software investor managing private equity funds active in the Benelux, DACH, the Nordics, France and the United States with approximately EUR 12.5 billion in Assets under Management. Main has over 20 years of experience in strengthening software companies and works closely with the management teams in its portfolio as a strategic partner to achieve profitable growth and larger outstanding software groups. Main has approximately 100 employees operating out of its offices in The Hague, Düsseldorf, Stockholm, Antwerp, Paris, London and an affiliated office in Boston. Main maintains an active portfolio of over 50 software companies. To learn more, visit main.nl.