On the heels of a successful acquisition and bolstered by fresh funding, Fin brings its marquee logistics solution to US shores, while further expanding its footprint across the UK

LONDON, UK (October 16, 2024) — Fin, London’s premier operator in sustainable logistics, today announced $7M (£5.3 million) in seed funding alongside plans to expand its operations to the US. The funding round was led by MaC Venture Capital with participation from Side Door Ventures, Pearls Capital and Simplex Ventures. With this support, Fin is able to scale its operations, now boasting over 100 e-cargo bikes and 100 electric vans used to deliver between 7,000 and 14,000 parcels throughout its homebase of London daily. The expansion to the US, with plans to launch in New York City in early 2025, will mark the company’s first venture outside the United Kingdom. Fin will continue the expansion, with plans to expand into five additional UK cities in 2025.

Fin’s innovative approach to logistics deploys electric vans and e-cargo bikes, peddled by a driver and
built to carry up to 250kg. The method not only reduces delivery times and eases congestion but also cuts CO2 emissions significantly compared to traditional delivery methods. Fin offers next-day delivery even for late-night orders, with parcels ordered as late as 10:00PM still arriving the next day. Businesses using Fin have reported saving an average of 24 hours on deliveries. At the core of Fin’s success is its
commitment to innovation and sustainability, making it a versatile solution for urban deliveries.

“New York is a natural next step for us as we continue to revolutionize urban logistics.” The often congested city drastically needs an eco-friendly delivery solution and a more reliable way for New Yorkers to receive the packages they order. This funding, along with our success in
London thus far and the strategic acquisition of Urb-It earlier this year, propels Fin towards profitability and our goal of bringing sustainable, efficient last-mile delivery to new markets. We look forward to integrating with new partners and delivering more packages safely, efficiently and sustainably for US residents.

Rich Pleeth, CEO of Fin

Fin has already attracted an impressive roster of clients, including AG1, Ricoh and GRIND, who have
since leveraged the company’s logistics agility and consumer satisfaction to scale sales in the UK.
Additionally, since acquiring last-mile operator Urb–It, Fin has allowed major commerce suppliers,
including MetaPack, Metafour, nShift and Intersoft to fast-track operations across the UK. Integration with
Fin’s API is designed to be quick and seamless. Fin’s proprietary AI-powered technology platform creates
optimized routes offering full transparency to clients and end customers. Machine learning algorithms
analyze real-time and historical data to forecast delivery delays, predict traffic or weather impacts and
assess the likelihood of recipients being unavailable. During deliveries, AI makes real-time adjustments
for unexpected events, ensuring minimal disruption to follow the most efficient route.

“The MaC team has supported Fin since its inception, and we are fully confident in the team’s ability to scale as the company expands its footprint beyond the UK and into the US market,”Fin’s innovative approach to sustainable urban logistics aligns perfectly with the growing global demand for customer convenience, while prioritizing eco-friendly options. The company’s rapid growth in London has demonstrated not only the effectiveness of its model but also the strong market appetite for greener, more efficient delivery options. We believe Fin is well-positioned to shift the culture of urban logistics, especially in New York, where residents need a better solution for efficient, safe and environmentally friendly deliveries.”

Marlon Nichols, Managing General Partner and Co-Founder of MaC Venture Capital

With a market size of over $130B and a new reserve of funds plus an acquisition under its belt, Fin is
actively revamping commerce by offering its solution to a broader range of companies, meeting the
demands of a market that increasingly values sustainability while keeping costs low for consumers and
providers. Looking ahead, Fin is focused on continuing its rapid expansion while maintaining its commitment to sustainability and innovation and aims to deploy 500 more bikes this year across both the
UK and New York.

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. For more, visit https://finmile.co/