AnyVan secures £125m investment

London based logistics technology company AnyVan has raised £125 million in investment to fund expansion. Vitruvian Partners, a growth capital investor, has led the funding round.

Through the Anyvan platform, clients can access any one of a fleet of around 7,000 vehicles around the UK and Europe, to transport large items. Many clients have used it for freight and removals but it is increasingly receiving interest from the business to business market.

The platform helps tackle the problem of the fragmented transportation industry in the UK and EU. Since it was founded in the early 2000’s, AnyVan says it has completed more than 2 million deliveries. In the last nine months, the Hammersmith, London based firm saw revenues grow by more than 80%.

“We are now primed and funded to continue to accelerate our expansion rapidly across Europe, targeting a market that is underserved and highly inefficient, making it ripe for disruption and rapid growth,” said founder and CEO Angus Elphinstone.

Thomas Studd, a partner at Vitruvian Partners, said that AnyVan’s “network of transport partners and its optimisation technology mean it is able to provide keen pricing and high-quality service to customers while improving the efficiency and carbon footprint of the industry”.

“Take-up of technology and data in the fragmented logistics ecosystem has been limited and we believe AnyVan has a large role to play in the upcoming digitisation of the industry.”

More:   Yango Deli offers Christmas tree deliveries in London