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Fin, a London-based sustainable logistics operator, has announced the acquisition of Urb-It, a 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.
This acquisition showcases the startup’s ability to achieve accelerated growth and momentum in becoming a “scale-up to watch” in the delivery and last-mile operations sector.
Fin’s investment in Urb-It’s marquee technology will be channelled into expanding its market.
Urb-It’s integration with e-commerce giants such as Cainiao, AliExpress, The Hut Group, Zara, MetaPack and Shein 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 four times in 2024, with the expectation to onboard major e-commerce clients.
Rich Pleeth, CEO and co-founder of Fin, said: “The acquisition of Urb-it is a giant leap forward in our mission to reshape the logistics industry completely.
“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 specialised 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 prioritise customer satisfaction.”
With its newly acquired technology, a reserve of funds, and a commitment to the environment, 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 reliable alternative to traditional delivery methods.
Danny Brown of MaC Venture Capital, lead US investor of Fin, added: “This isn’t just an acquisition, but a significant leap forward for both Fin and the broader logistics industry. Urb-It’s cutting-edge technology perfectly fits Fin’s vision of bringing sustainable logistics solutions to market.
“Fin’s groundbreaking platform is actively ushering in a new era of sustainability and shaping the future of logistics with environmentally sounds practices. We look forward to seeing the continued impact the company makes as it transforms the logistics industry.”
