French company GeoPost, a subsidiary of postal company La Poste that specializes in parcels, has announced its acquisition of Paris-based Stuart, a local courier platform. Previously GeoPost held 22 percent of the company's shares. The amount of the deal has not been disclosed.
Stuart's platform connects businesses with a network of independent couriers to complete local deliveries. Almost 90 percent of deliveries are made on foot, by bicycle, or with cargo bicycles, which allow for the carrying of large loads.
Geopost aims to accelerate Stuart's growth and make the urban delivery platform "a leading European player" in its sector. The startup currently employs around 100 people in five European cities (Paris, Barcelona, London, Lyon and Madrid), with about 500 clients.
Read more: Fusacq (French)