Cubyn in a €35 million round led by Eurazeo and Bpifrance Large Venture
Cubyn, a Paris, France-based SAAS developer of on-demand fulfillment solutions, announced the completion of a €35 million ($41.8M) capital funding round.
The money was raised from backers led by investors from France Eurazeo and Bpifrance via its growth vehicle Large Ventures, and included participations from First Bridge Ventures and Fuse Venture Partners, woth follow-on funding from DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNPP Developpement.
The funding will be used to hire people and make the business international, starting with Spain and Portugal launching in April 2021 followed by Italy, UK and Germany.
Cubyn, founded in 2015 by CEO Adrien Fernandez Baca and Mathieu Lemaire, launched initially as a SAAS solution focusing on e-merchants willing to outsource their logistics while keeping their inventory.
The company now sells software tools that streamline the logistics process for merchants covering the end-to-end ecommerce fulfilment, ranging from web apps to advanced optimization through algorithm and warehouse robotics. This positioning allowed the company to grow its Gross Merchandise Value from €30 million to €250 million in 2020 for its first full year.
Prior to this round, Cubyn secured about $22 million in risk capital.