Last mile start-up Budbee wins £21.3 million investment

Latest investment brings total funding up to £82 million for Nordic-focused delivery service

AMF, a Swedish pension company, is investing £21.3 million in Budbee, a Swedish logistics technology start-up.

The start-up offers a last-mile delivery service with a sustainable focus via a purpose-built technology platform.

The new investment takes Budbee’s total funding to date to £82m.

The new funding will be used for international expansion, and new technology and processes to improve sustainability and customer service.

The start-up is focused on the Nordic market and was founded in 2015.

Budbee says it coordinates millions of deliveries monthly and said in a release that in 2020 it experienced a 200% increase in completed deliveries over 2019.

Budbee’s customers include brands like ASOS, Zalando and H&M, as well as independent e-commerce stores.

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