Fin, London’s premier operator in sustainable logistics, today announced £6m 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.
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.
With a market size of over £100bn 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.
