Fin announces the acquisition of sustainable logistics and delivery solution, Urb-It, a key player in the last-mile operations space serving Spain, France and the UK since 2017. The new technologies and solutions will be an integral part of Fin's forward-looking strategy and help to accelerate overall company growth in the zero-emissions, sustainable parcel delivery and logistics services industry.
"The acquisition of Urb-it is a giant leap forward in our mission to reshape the logistics industry completely,” says Rich Pleeth, CEO and co-founder of Fin. “Our commitment to sustainability is more than just a business strategy—it's in our company's DNA and encompasses protecting both the planet and people, all while maintaining profitability. By taking over Urb-It’s operations, we’re confident we can leverage this highly specialized technology for good, creating an even more seamless delivery experience in London while maintaining our commitment to the environment. Looking ahead, we’re eager to employ more Londoners, keep up the flow of commerce and prioritize customer satisfaction.”
Key Takeaways:
- This key acquisition showcases the startup’s ability to achieve accelerated growth and momentum in becoming a “scale-up to watch” in an otherwise noisy delivery and last-mile operations sector. Fin’s investment in Urb-It’s marquee technology will be channeled into expanding its market, accomplishing in a short span what could have taken incumbents 18-20 months to achieve.
- Urb-It's integration with e-commerce giants opens doors to a wide range of partnerships for Fin, resulting in quicker, greener deliveries across the UK.
- With this newly established financial prowess, Fin is on track to supercharge its overall growth by 4x in 2024, with the expectation to onboard major e-commerce clients.
- With its newly acquired technology, a reserve of funds and a commitment to the environment backed by action, Fin is actively revamping commerce by further amplifying its ability to offer eco-friendly shipping solutions to a broader range of companies, meeting the demands of a market that increasingly values sustainability while keeping costs low for consumers and providers. The delivery platform, powered by a network of microhubs, Fernhay e-cargo bikes and electric vehicles, has already positioned itself as a fast and reliable alternative to traditional delivery methods.
