Budbee doubles revenues in 2021

Swedish parcel locker scale-up Budbee has doubled its revenue in the last year and added 3,200 lockers to its network. Hitting revenues of €80 million in the last 12 months, Budbee now has 4,000 parcel lockers from a baseline of just 800 in April 2021.

Budbee’s market share in its home market of Sweden also grew from 1% to 5% as it takes on competitors like Swipbox. It has extended its operations to Finland, Belgium, Denmark and the Netherlands.

Focusing on deliveries for major retailers like Asos and H&M, the parcel locker company offers free same- and next-day delivery for their customers across Europe. It now has 6 million clients serving 30 million of their customers.

CEO Frederik Hamilton: “While we entered the market as a challenger, we’ve experienced exceptional growth in 2021. This development underlines our ambitions. We are looking forward to 2022 with confidence.”

According to the company, the pandemic has had a positive effect on business as the parcel locker system offers a contactless form of delivery. During the lockdowns this was far more attractive to customers than couriers handing them their parcels. Rivals Swipbox saw a 50% uptick in use of their parcel locker network in the same period.

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