British sustainable logistics provider Fin has raised $7 million in seed funding to expand its operations into the US. Fin will use the funding to scale its e-cargo bike fleet by 500% from 100 to 600 vehicles in total. The operator aims to deploy these additional vehicles across the UK and New York by the end of the year. “When operating in NYC compared to London, we need to account for several key differences,” Fin CEO Rich Pleeth told Zag Daily. With a market size of $130 billion, Fin plans to expand into five additional UK cities in 2025 starting with Manchester and Birmingham.

Source: The North Africa Journal October 16, 2024 11:26 UTC