Fin 🚲

Setting the Scene

• Urban areas face significant logistical challenges in transporting goods due to:

  • Rising Demand: Online shopping has led to higher parcel volumes, overwhelming traditional delivery systems.

  • Congestion: Traditional delivery methods contribute to urban traffic congestion, slowing down delivery times.

  • Environmental Concerns: Conventional vehicles emit pollutants, worsening air quality.

  • Regulatory Pressures: Governments are imposing stricter emissions regulations and traffic limitations.

• This week’s company revolutionizes urban parcel delivery with e-cargo bikes and electric vans, while using AI to reduce congestion, pollution, and delivery times.

In a Sentence

Fin is a logistics company that reduces urban delivery congestion by leveraging eco-friendly vehicles and AI-optimized routes.

• Delivery Vehicles: Fin’s fleet includes zero-emission e-cargo bikes and electric vans that brands hire for their delivery needs.

• AI Routes: Fin’s proprietary AI technology calculates the most efficient delivery paths, considering real-time traffic, weather, and urban layout.

The Basics

• Industry: Logistic, Supply Chain, AI

• Headquarters: London, UK

• Year Founded: 2023

• Employee Count: 15 and 120 riders and drivers

• Investors: MaC Ventures, ProChain Ventures, Ascension Ventures, Blank Capital, numerous angels

• Amount Raised: $3.1M

• Business Model: B2B service with plans to license their proprietary AI-optimized routing software to other logistics companies

• Early Traction: $1.9M in (contracted but not yet realized) MRR, 3000-4000 parcels delivered daily, deals with TikTok Shop, Charlotte Tilbury Makeup, Supreme, Ikea, and Molton Brown

IN PARTNERSHIP WITH

• The ARK Venture Fund is taking an asset class once reserved for the accredited, ultra-rich and making it available to all US investors.

• ARK offers investment exposure to companies like SpaceX, Epic Games, Figure AI, Anthropic, and more! See the portfolio here.

• You can invest in the ARK Venture Fund (ARKVX) for as little as a $500 minimum initial investment.

• All U.S. self-directed investors can download the SoFi or Titan app and invest in the ARK Venture Fund (ARKVX) now.

The above button will also contain a prospectus and fund risks. Foreside Fund Services, LLC, distributor.*

Due Diligence

WHAT WE LIKE

• Market Size: The last mile delivery market is expected to grow from $18.3 billion in 2022 to $35.3 billion by 2029, positioning Fin to capitalize on this growth with its eco-friendly and efficient delivery model.

• Expansion Plans: Fin plans to license its proprietary AI-optimized routing technology to other logistics companies after establishing a strong presence in the UK, positioning them to scale rapidly without the capital and operational burden of managing a global delivery fleet.

• Environmental Impact: Commercial vehicles account for 19% of the overall miles driven in London but emit 30% of the city's transport-related CO2.

  • Fin's use of e-cargo bikes and electric vans reduce emissions and traffic congestion, contributing to a safer and cleaner urban environment.

POTENTIAL RISKS

• International Expansion Success in the UK does not guarantee the company will find success in other markets like the United States.

• Regulatory: Fin could face regulatory hurdles that impact its operations, as it must adhere to varying city guidelines and regulations.

• Unproven Software Model: Fin’s hardware isn't highly defensible, and while the company plans to license its AI-optimized routing technology to other logistics companies, there is no proven implementation beta yet.

Founder Profile

• Rich Pleeth, CEO: Formerly with L’Oreal, Google, Gett, and Bolt, with extensive experience in marketing and operations within the mobility sector.

• Chris Sargeant, COO: Previously at REEF’s European operations and co-founded a virtual brand company.

Comps

• Hived: Backed by Everywhere Ventures, Pale Blue Dot, Planet A Ventures, and others.

• Packfleet: Backed by General Catalyst, Voyager Ventures, and Creandum, and others.

• Zedify: Backed by Green Angel Ventures, Barclays Ventures, Mercia Ventures, and others.

Cast Your Vote

Last Week Today

• The results are in: Subbb, a company that empowers creators to easily launch and manage paid communities across platforms with maximum customization, was favored in last week’s poll.

• Subscriber feedback: “This is a growing market and a huge opportunity.”