27. Fin Sustainable Logistics: the e-cargo bikes you’re about to see everywhere

Founder: Rich Pleeth and Chris Sargeant
Year founded: 2022
Website: finmile.co

Today, UK cities and towns, from London to Lichfield, are flooded with delivery couriers. Deliveroo blue has become as ubiquitous on the high street as cars and buses. However, with each rider limited to just a few small packages, delivery capacity remains constrained.

Constrained, that is, without Fin Sustainable Logistics. The startup has arrived to disrupt the logistics industry with its fleet of electric cargo bikes that are able to move through busy traffic and compact side streets without compromising on storage space.

E-cargo bikes, it must be acknowledged, are nothing new. But Fin doesn’t offer just bikes and riders. Its clients can also make use of strategically placed micro-fulfilment hubs.  Located closer to customers, they allow for faster pick-up and smarter route planning.

Fin is also revving up for the AI revolution. It says its advanced AI and machine learning algorithms are able to optimise routes, ensuring that deliveries are quicker and guzzle less energy. Combined, Fin is the full package for urban SMEs and their impatient customers. 

Gaining buy-in was harder than it might have been ten years ago, however. “We launched in a competitive and sceptical market”, explain the founders. “Several high-profile instant delivery services recently failed despite massive investments, making investors wary.” 

Thankfully, Fin’s advanced tech and micro-hub strategic focus have proved convincing. Last October, the startup confirmed it has raised £5.3m in seed funding. But the business’ core mission remains reducing the number of diesel and gasoline delivery vehicles on UK streets. 

Currently operating out of the capital, clients include London-favourites such as supplements company AG1 and coffee retailer Grind. Excitingly, Fin will make a bee line for Manchester and four other UK cities this year. New York is also reported to be on its list of destinations.

“In five years, Fin will be a household name delivering millions of parcels a day,” says Fin’s founding team. It’s a green light from the Startups 100 Index.