Scandinavian parcel locker and e-commerce technology company Instabox has acquired Nordic same-day delivery company Porterbuddy.

The acquisition will combine its parcel locker business with Porterbuddy’s successful home delivery business. Porterbuddy’s current owners Verdane will also invest in Instabox as part of the deal.

Instabox has seen success in recent years with its revenues almost tripling to SEK 700m (£56.4m) year over year to 2021. Last year the parcel locker specialist acquired Dutch Red je Pakketje and has announced plans to move into the German market. The move into home delivery will expand its presence in the Nordics and new markets.

“We’ve had our eyes on Porterbuddy for a while, as one of the most innovative last-mile companies in the Nordics. I’m particularly impressed by their 4.9 out of 5.0 user rating which means that they share our obsession with user satisfaction, as well as their home delivery tech stack which I believe is one of the strongest out there. We couldn’t be more excited to join forces with the Porterbuddy team as we continue to expand in new markets”, says Alexis Priftis, CEO and Founder of Instabox.

The same-day home delivery business reaches around 60% of the population of Norway. It delivers parcels for major Norwegian merchants such as Varner, Jollyroom, Komplett and Farmasiet.

Henrik Gerner-Mathisen, CEO and Founder of Porterbuddy said of the sale, “We have been looking to strengthen our competitive edge for some time, and Instabox is a great partner with complementary skills. We are impressed by the Instabox team, its market leader position in Sweden, and its continued tech-based high growth performance. The combined service offering will create a clear Nordic market leader and unique products and services to merchants and consumers in the time to come

“We will continue to drive sustainability in the industry as well as challenging the established with innovative business models, products, and services.”