Urb-it AB (publ) announced the expansion of its operation in Spain to the city of Valencia. This move further solidifies presence in Spain and commitment to providing sustainable, efficient, and convenient delivery services to urban areas in France, Spain, and the UK. Valencia is an ideal location for Urb-it to expand its operation due to its rapidly growing population and economy.

As a critical player in the Mediterranean economy, Valencia offers a diverse range of business opportunities and a large consumer base. The population of Valencia is around 800,000 and has a healthy GDP per capita. This expansion thus strengthens Urb-it's attractiveness to retailers in Spain, allowing to grow volume and density not only in Valencia, but also in the existing markets of Madrid and Barcelona.

In February 2021, the Valencia 2030 Climate Mission was approved, where the city aims to decarbonize, reducing CO2 emissions and becoming climate-neutral by 2030. In this quest, the city has been investing heavily to reduce car traffic while simultaneously increasing the accessibility for bikes. Urb-it's sustainable last-mile delivery service utilizes local couriers on cargo bikes to make deliveries.

This not only reduces the environmental impact of delivery services but also helps to alleviate traffic congestion and improve air quality in urban areas. Additionally, the platform allows for flexible delivery times and faster delivery times, providing a more convenient service for customers.