Press Release

ANCHOVY. announces their exit as shareholders from Fetch It

By June 26, 2019 No Comments

ANCHOVY. founders Benji and Zak Borg have announced their exit as shareholders from Fetch It, the first on-demand delivery service in Malta.

Founded in late 2016 and launched in early 2017, Fetch It was set up to revolutionise the way the transportation of goods and products is done in Malta. Just a click on their website and a small delivery charge,and Fetch It will make sure your goods are picked up and delivered at the destination of choice.

Zak rightly questioned ANCHOVY’s position as the company continued to grow and reach increasingly mature stages of its life. “Our key contributions came purely through a marketing and tech focus, arguably elements which were mostly needed to get the company off the ground. We realised we had less to contribute in terms of the ongoing operational endeavours of the company, which were now naturally the central focus of this business model.” Moreover, ANCHOVY. at the time were going through the arduous process of going public on the Malta Stock Exchange. Given the circumstances, the Borg brothers felt the time the right was to part ways with Fetch It.

“It wasn’t a case of pulling out because we didn’t believe in the business. We believe in Fetch It wholeheartedly and we still do to this day. We as ANCHOVY. simply felt that we couldn’t continue investing our time in this venture and could no longer contribute as profoundly as we did to the business, given its stage”.

Benji shares how it was a unanimous and amicable hand-over, and a mature decision which was in the best interest of Fetch It at the time. “Whilst it was really sad to part ways with such a great business, it also proved a great learning curve for us, being our first exit so to speak. The emotional connection to something you helped build is incredibly strong, so making this decision was especially tough.”