Home Business Last-mile delivery start-up Fin raising funds for carbon-zero logistics

Last-mile delivery start-up Fin raising funds for carbon-zero logistics

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Fin Delivery, founded by Rich Pleeth and Scott Murphy, is in talks to raise £5m from investors to fund its expansion, Sky News understands.
City editor
Friday 9 June 2023 12:59, UK
A British carbon-zero delivery start-up co-founded by a former Google executive is in talks to secure millions of pounds to fuel its expansion
Sky News understands that Fin Delivery, which was set up last year, is seeking to raise £5m from investors.
Fin uses micro-fulfilment hubs, e-cargo bikes and other carbon-neutral vehicles to deliver parcels – a growing area in a sector whose economics are constantly shifting amid inflationary pressures and intense competition.
The company was founded by Rich Pleeth, a former Google and Gett executive, and Scott Murphy, previously of Revel and FlyOtto.
It believes it can exploit operational inefficiencies which beset traditional delivery companies, while making a virtue of the fact that it does not contribute to the industry’s pollution problem.
„Our goal is to make cities more liveable, reducing congestion and reducing pollution is a step in the right direction,” Mr Pleeth said.
„In the last 80 years cities have just been designed around vehicles, taking away from our pavements and green spaces: the time is now.”
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He added that the company was on track to deliver 10,000 parcels a day by the third quarter of the year.
It operates in London, where a recent report commissioned by the Mayor, Sadiq Khan revealed that all London boroughs are breaching World Health Organization guidelines for nitrogen dioxide (NO2) levels
Fin is understood to have secured contracts with prominent e-commerce companies, but declined to name them.
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