GeoPost, the international subsidiary of the French Groupe La Poste, has acquired delivery startup Stuart for an undisclosed amount, according to TechCrunch. GeoPost already held a 22 percent stake after leading its €22 million Series A round in 2015.
Stuart enables merchants to offer customers same-hour delivery through its website and mobile app. The site offers multiple modes of transportation, from pushbikes to motorbikes to vans, so that it can deliver different-sized packages within the same city for merchants of any size.
The company currently operates in France, the U.K. and Spain, making deliveries for more than 500 customers, including Carrefour, Franprix, Burger King, the Kooples, Pizza Hut and Cdiscount.
“We are extremely proud of the journey that we and our more than 100 employees have taken over the last two years,” said Stuart founders Clement Benoit and Benjamin Chemla. “GeoPost’s acquisition will enable Stuart to maximize its potential and become the leading player in last-mile delivery in Europe.”
As for GeoPost, the acquisition will help it remain a leading provider of express urban delivery in Europe.
“This decision logically follows our investments in Stuart over the past two years,” said Paul-Marie Chavanne, GeoPost’s CEO. “Stuart completes our delivery service at a local level and embodies the future of express urban delivery, a rapidly expanding strategic activity for us.”