Who is Stuart?
Stuart is a last-mile tech-enabled logistics platform that provides sustainable, precise, and shared delivery solutions for local and urban commerce. Founded in 2015 and owned by Geopost since 2017, the Stuart last-mile delivery platform enables instant and scheduled delivery solutions across industries (food, grocery, retail) and businesses (from small and medium-sized businesses to enterprise clients). As of 2023, Stuart operates across six European countries and over 150 cities.
What was the challenge?
Couriers who carry out deliveries via Stuart's delivery platform help keep the last-mile logistics of many European cities moving smoothly. As independent self-employed individuals, they don't receive a fixed salary but instead earn based on the number of deliveries they complete - their earnings are determined by a number of factors such as the distance they travel, and the time of day that they work. It provides flexibility and freedom in work schedules. With this freedom, couriers experience consistent fluctuation in the earnings that they receive. It's a unique set of financial requirements that forces them to focus on the short term, making day-to-day cash management a priority. Doing this successfully is not always easy - in a survey conducted by Otto, financial concerns were reported as a primary stressor for two-thirds of respondents, with every respondent experiencing financial stress to some degree.
What did Stuart want to do?
As couriers who carry out deliveries on the Stuart platform are self-employed and therefore don't have fixed contracts, they can't plan their expenses around guaranteed earnings. Instead, they must manage their finances daily. Additionally, many couriers have multiple accounts with other delivery platforms and need a cohesive view of their entire financial position. Stuart wanted to offer better support to couriers by deploying a unified solution that provides couriers with bespoke, holistic financial overviews, expense tracking tools, and cash flow management analytics, along with financial literacy workshops. The goal was to help couriers optimise their earnings and financial stability, alleviating stress and improving overall quality of life.
How did Otto help?
Couriers with a Stuart account were given access to Otto's advanced suite of personal finance diagnostics, which provides valuable insights into their spending habits. This information was followed up with suggested actions to help couriers change their behaviour. Additionally, couriers have access to weekly Friday workshops and group coaching sessions led by financial experts across a broad range of relevant topics such as planning with irregular earnings, tax obligations, and managing expenses.
What was the impact?
Stuart's partnership with Otto had a two-fold impact. First, couriers were able to get an instant understanding of their financial position through bespoke spending and cash management analytics. Second, they had access to world-class financial coaching resources. During one workshop, a courier asked a particularly engaging question:
“Need to register with HMRC for self-employed status - how do I do this and what are the consequences?”
Otto’s tax expert provided direct guidance on the best course of action, including information on late filing fines, time-to-pay arrangements, and seeking professional help from an accountant.
Through this example and others, Otter was able to efficiently support couriers during times of recession and the cost-of-living crisis, alleviating stress and setting them up to navigate their day-to-day financial requirements optimally.
Thanks to Otto's cutting-edge spending analytics, actionable insights, and tailored financial masterclasses, Stuart was able to provide comprehensive support to couriers, demonstrating commitment to their welfare. By giving access to world-class financial guidance and tools, Stuart was able to alleviate financial stress and promote stability, a particularly valuable offering during challenging times such as in the current cost of living crisis. The partnership with Otto enabled Stuart to go above and beyond in supporting couriers, further solidifying its reputation as a company that prioritises their well-being.
Statement from Madeleine Debney, Co-Founder & CPO of Otto
As a co-founder of Otto, a financial health platform that helps people take charge of their finances, I'm excited to announce our partnership with Stuart - a leading last-mile tech enabled logistics platform operating across six European countries and 150 cities. We're thrilled to be supporting the couriers who carry out deliveries via the Stuart platform with our financial health platform and group coaching sessions.
We believe that access to financial knowledge is essential for self-employed individuals, and our partnership with Stuart will help such individuals achieve just that. With our program tailored specifically to the individual financial and well-being requirements of couriers, Otto is creating a healthier environment in which last-mile delivery couriers operate.
We're excited to see the positive impact this partnership will have on overall quality of life and are committed to a long and successful collaboration.