Verdane and Canica invest in Porterbuddy for greener and more user-friendly last mile delivery
Verdane, the Northern European specialist growth investor, has announced its investment in Porterbuddy, the fast-growing logistics technology platform setting new standards for greener, personalised and convenient delivery for online shoppers.
Porterbuddy launched its delivery service in Oslo, Norway in 2017 and has experienced strong growth the last two years. Focusing on smart use of technology, digital interfaces and machine learning, the company’s proprietary technology platform optimises the use of available infrastructure in the logistics market allowing local couriers to use their excess capacity. The platform enables direct integration in the online shopping and checkout process, making life easier for both consumers, couriers and online retailers. Porterbuddy is already an important enabler for several Verdane and Canica portfolio companies, such as Blush.no, Komplett.no, Jernia and Farmasiet.no.
“The Porterbuddy team is thrilled to partner with Verdane and Canica on our next stage of growth. Our logistics technology platform offers the market’s best solution for greener last mile home delivery. By partnering with Verdane and Canica, we can scale faster, connecting retailers, logistics hubs and couriers to offer consumers great shopping experiences,” says Henrik Gerner-Mathisen, CEO and co-founder of Porterbuddy.
A good offering for last mile delivery is essential to the continued success and accelerated growth of online retailers. One of Porterbuddy’s many innovative features is offering the customer to go back and shop more on the same delivery, from multiple sites, even after check-out. This provides a unique pathway to lowered emissions.
“Home delivery in urban areas generates traffic. Our smart route planner algorithm consolidates orders from different sites into one delivery. And while traditional logistics services do not systematically coordinate multiple purchases into one delivery, we only need one stop to deliver on promise – saving online retailers and consumers valuable time while reducing traffic and thereby also emissions. Our strategy of increasing utilisation of electrified cars and bicycles will further increase this positive effect,” says Gerner-Mathisen.
Porterbuddy will leverage Verdane’s comprehensive experience from investments in 30 e-commerce companies, including successful businesses such as Boozt, Desenio, RoyalDesign, and Safira. Similarly, Porterbuddy will benefit from Canica’s comprehensive retail- and e-commerce experience from investments in Orkla, Komplett.no and Jernia.
“We are proud to welcome Porterbuddy to the Verdane family. Henrik and his team have built an exciting company which offers consumers and online retailers fast, user-friendly delivery services with a lowered carbon footprint. We look forward to supporting Porterbuddy together with Canica on the journey to become the leading last mile delivery company in Norway and other markets,” says Bjarne Kveim Lie, Managing Partner at Verdane.
Verdane is investing together with Canica. The two will be joint majority owners of Poterbuddy following the transaction. The parties have agreed not to disclose the terms of the investment.