Same-day delivery service Borzo has acquired Indian 90-minute delivery platform NOW, a move designed to strengthen its position in that country, according to a Wednesday (Jan. 5) press release.
“NOW has built an impressive product offering which clearly resonates with corporate customers,” said Borzo Co-Founder and Deputy CEO Aleks Shamis in the release. “[It has] created the process for engaging hyperlocal couriers enabling lightning-fast delivery with predictable ETA. 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.”
NOW handles around 2 million orders a year for brands that include KFC, Amazon and Pizza Hut, using a fleet of about 1,500 riders, the release stated. Present in eight cities, it lets restaurants, eCommerce firms and direct-to-consumer (D2C) brands quickly deliver orders to their customers. The company is expected to make more than 5 million delivers this year.
Operating in 10 countries, Borzo provides same-day intracity business delivery “via any route and transport, any weight or size,” according to the release. In the third quarter of 2021, the firm carried out 10 million worldwide delivers.
NOW will remain independent “but will be able to leverage the expertise of Borzo and its operations across 10 countries,” the release stated.
Founders Vivek Pandey and Bharat Khandelwal bring with them years of experience with companies such as Flipkart, Times Internet and Nelson, a transport packaging company, according to the release.
“Both NOW and Borzo share the same underlying principle, utilizing advanced algorithms and carefully managing operations to provide superb delivery services,” said Pandey, NOW’s CEO, in the release. “… Joining forces will allow us to rapidly scale up in a market where demand for hyperlocal deliveries is in millions per day.”
PYMNTS examined the rise of ultrafast delivery earlier this week in our look at the way food commerce is changing.
Read more: 5 Digital Developments Transforming Food Commerce
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