Low Cost Advisor

February 6, 2022

Budbee doubles revenue in 2021

Last-mile delivery scale-up Budbee has doubled its revenue in 2021 compared to the year before. The past year the company made 80 million euros in turnover. In home country Sweden, Budbee’s market share even grew to 1 to 5 percent.

Aside from Sweden, Budbee is also active in Finland, Denmark, Belgium and the Netherlands. The logistics tech company works with big retailers like Asos and H&M. Budbee is known for their fossil free same- and next-day delivery and parcel lockers. Customers can keep an eye on their package with a real-time tracking app.

Over 6 million clients

The record-level revenue marks the first year with a positive operating result for all markets. Budbee says it now reaches more than 30 million people across Europe, working with over 6 million clients. In Sweden, the scale-up’s market share even increased to 1 to 5 percent.

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.”

4 thousand parcel lockers in Europe

Throughout Europe, there are now 4 thousand parcel lockers from Budbee. In April of last year, there were only 800.

Parcel lockers have been on the rise for a while: the number of pick-up points in Europe has increased by 40 percent since 2019. The European parcel locker market is growing more competitive, with companies like InPost and Swipbox also wanting a piece of the pie.

Pandemic-effect

Budbee thanks its growth in part to effects from the pandemic, the company says. H&M, for example, uses its parcel lockers as a click & collect-solution. Aside from home delivery, this was the norm during lockdowns.

This in addition to an overall rise in parcels and, consequently, returns. For this reason, competitor Swipbox also noticed a pandemic-related boost: in 2021, over 50 percent more packages were delivered to their lockers.

 

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