SUSTAINABLE LOGISTICS PROVIDER, FIN, ACQUIRES INDUSTRY VET URB-IT’s TECHNOLOGY, SOLIDIFYING ITS POSITION AS A GLOBAL ECO-FRIENDLY, ZERO EMISSIONS DELIVERY AND SUPPLY CHAIN POWERHOUSE
Poised to become a category leader, Fin’s first acquisition further cements the brand as the rival last-mile delivery solution in a crowded marketplace.
LONDON, UK (January 23, 2024) — In a strategic move underscoring its commitment to sustainable growth, Fin, London’s premier operator in sustainable logistics, today announced 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.
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 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 4x in 2024, with the expectation to onboard major e-commerce clients.
“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.”
With a market size of over $130B, the last-mile delivery space is overflowing with greenwashers who often embrace narratives around responsible environmental practices while rarely providing tangible examples or solutions. 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.
The logistics industry plays a pivotal role in global commerce, ensuring the seamless movement of goods from manufacturers to consumers. However, this efficiency often comes at an environmental cost, with significant carbon emissions and ecological impact. With global emissions at an all-time high, last-mile parcel delivery prioritizes both green initiatives while maintaining consumer satisfaction. By recognizing the urgency of addressing both environmental and wide adoption challenges, innovative solutions are emerging to create a more sustainable approach to logistics. Fin is at the forefront of the last-mile delivery movement, actively working to reduce the global carbon footprint.
Danny Brown of MaC Venture Capital, lead US investor of Fin, commented, “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.”
As consumers and businesses alike increasingly prioritize environmentally responsible practices, this shift not only serves as a significant step in mitigating environmental impact but also becomes essential for the resilience and longevity of companies in the dynamic market. By embracing sustainability, the logistics industry, including trailblazers like Fin, is not just meeting current expectations but actively shaping a more eco-conscious future, demonstrating that profitability and planetary health can coexist for the benefit of both businesses and global commerce.
ABOUT FIN
Fin Sustainable Logistics is creating smart, sustainable large-scale logistics solutions. Their comprehensive approach to urban logistics leverages technology and innovation to streamline delivery operations, reduce environmental impact, and enhance the efficiency of last-mile deliveries in urban areas using an all-electric fleet of vans and e-cargo bikes.
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