Russian-founded/Amsterdam-based emerging markets same-day courier Borzo has acquired 90-minutes or less courier service NOW. Already active in India, the purchase of NOW is aimed at strengthening the company’s position in the region and offering more specifically tailored delivery solutions to local customers. The financial details of the deal were not disclosed.
Boasting a healthy client roster that includes KFC, Pizza Hut, Apollo Pharmacies, and Amazon, NOW is fulfilling close to 2 million orders per year via its fleet of over 1,500 riders. The company is active in 8 cities across India and is expecting to exceed 5 million deliveries this year.
"NOW has built an impressive product offering that clearly resonates with corporate customers. They've created the process for engaging couriers and enabling lightning-fast delivery with predictable ETA," commented Borzo co-founder and deputy CEO Aleks Shamis. "That falls into our current strategy of acquiring complementary and viable businesses throughout the world to expand our footprint and give our own customers more options.”
Borzo raised a healthy $35 million back at the end of August of this year and a total of $94 million over the past 9 years. The company reports that across its 10 markets, in Q3 2021, they fulfilled 10 million deliveries.