London-based sustainable logistics provider Fin has acquired last-mile operator Urb-it to accelerate overall company growth in the zero-emission, sustainable parcel delivery and logistics services industry.
Fin’s investment in Urb-it’s marquee technology will be channeled into expanding its market. Urb-it’s integration with e-commerce giants such as Cainiao, AliExpress, THG, Zara, Metapack and Shein opens doors to a wide range of partnerships for Fin, resulting in quicker, greener deliveries across the UK.
“The acquisition of Urb-it is a giant leap forward in our mission to reshape the logistics industry completely,” said 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.”
Fin’s 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, according to the company.
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 sound practices. We look forward to seeing the continued impact the company makes as it transforms the logistics industry.”