Fulfillment solution Cubyn raises €35M to launch a 25,000 m2 facility in France and expand across Europe
- Cubyn’s fulfillment solution cuts industry standard costs by 30% thanks to its technology
- Fulfillment revenue grew by x8 to 250M€ GMV in 2020 as the company plans to double its team to reach 170+ employees by 2021
- Major marketplaces Back Market, Rakuten, Mirakl, Fnac are already using Cubyn’s solution and leading e-commerce players like Fittrack and Chef Club recently joined
London/Paris, Thursday, March 18th 2021 – On-demand fulfillment startup Cubyn announces today a €35 million round led by Eurazeo and Bpifrance Large Venture with new participation from First Bridge Ventures and Fuse Venture Partners, and follow-on funding from DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNPP Developpement. Cubyn will use its new funding to double its team of 85 to 170+ employees by the end of 2021, and deploy its service internationally, starting with Spain and Portugal launching in April 2021 followed by Italy, UK and Germany. The company will also open a 25,000 sqm automated facility in the Paris area in the coming months, to increase its automation capabilities and continue to drive costs and delivery times down.
Cubyn made a major, strategic product launch into end-to-end ecommerce fulfilment in Q3 2019, a fast-growing and highly fragmented market estimated at 500B€ worldwide. Since then, the company has built the best proprietary technology to streamline merchant logistics, ranging from web apps to advanced optimization through algorithm and warehouse robotics Cubyn’s technology stack enables the company to operate a fully integrated fulfillment solution at a fraction of the industry standard cost. This positioning allowed the company to grow its Gross Merchandise Value from 30 to 250M€ in 2020 for its first full year.
“We see a huge opportunity for a neutral, cost-effective, and efficient fulfillment network in the e-commerce space. 15% of the Gross Merchandise Value transacted in e-commerce globally goes to e-logistics. Still today, there is no scalable, efficient logistics solution aside from the ones offered by siloed marketplaces. Cubyn is disrupting the traditional e-commerce third party
logistics market from the ground up, offering a better, faster and cross-border service at a 30% lower price. We are also providing merchants with not just additional revenue streams, but with our international roll out, we are now opening up new markets for them, outperforming other options available in terms of cost and delivery speed by far,” says Cubyn co-founder and CEO Adrien Fernandez-Baca.
Cubyn merchants can integrate their e-commerce inventory in 1-click and start scaling their sales without worrying about logistics, all while monitoring the process from one simple SaaS solution. When an online order is placed, it is automatically exported and processed from a Cubyn warehouse. Thanks to CarrierPredict, an in-house algorithm developed to determine the most efficient carrier for each package, parcels are inserted into the most efficient carrier network. Cubyn leverages shipping data from millions of parcels to improve the customer satisfaction for merchants and marketplaces alike.
With the pandemic, e-commerce exploded worldwide as billions of people were confined at home. From March to June 2020, e-commerce penetration grew as much in three months as it did in the last 10 years. With a total of 55M€ in funding, Cubyn is the uncontested market leader in the booming European e-commerce fulfillment sector. Cubyn is a work-from-everywhere company currently employing 85 people across the globe, and will double its team in 2021 with hires in sales, tech, data, robotics and product. Since inception, Cubyn has processed over 5 million shipments from its warehouse in Paris.
“Covid has accelerated the need for merchants to have a reliable, scalable and tech fulfillment solution. We’re excited to work with Cubyn to scale their business across Europe in the next few months, unlocking access to their cutting edge fulfillment tech for more merchants,” said Antoine Izsak at Bpifrance Large Venture fund.
The team has built a world class fulfillment solution very efficiently in only 18 months very. Cubyn now has the best technology and processes to win the European Market and we are very excited to be part of this rollout phase,” said Louis Bô, Investment Director at Eurazeo.
“International merchants represent 60% of Cubyn’s merchants. Their integrations with some of the world’s best marketplaces along with their European network coverage unquestionably make Cubyn the best option for international merchants looking to expand in Europe. We look forward to working with Adrien and the team to help him optimize and tailor the product through this crucial phase of the company’s growth,” said François-Xavier Copé, Founding Partner at First Bridge.
Cubyn is an on-demand logistics and fulfilment platform founded in 2014 by Adrien Fernandez-Baca and Mathieu Lemaire. Cubyn leverage technology to provide a logistics service allowing merchants to reduce their logistics cost by 30% and improve their customer experience. For more information visit www.cubyn.com
Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15.0 billion from third parties, invested in over 450 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA
Bpifrance is he French national investment bank : it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy), to help entrepreneurs meet their challenges (innovation, export …) For more information, please visit : www.bpifrance.fr and presse.bpifrance.fr
Large Venture is a €1,75bn Growth fund targeting highly innovative Technology & Life Sciences companies (listed or not), active on high potential markets, with a strong french footprint and a proven business model. Large Venture is an active shareholder, with a long term vision. It always coinvests, as a lead or as a follower. It focuses on rounds above €20m with a minimum first ticket around €10m. It has invested in more than 55 companies
About First Bridge
First Bridge Ventures is a growth investment fund specialised in Tech companies and operating between Europe and Asia. Through its strong connections in China and its chairman Adrian Cheng (Head of Chow Tai Fook and New World Development), First Bridge helps European-based companies to scale and grow in their domestic market through Asian partnerships.
About DN Capital
DN Capital is a leading European early stage venture capital firm with operations in London, Berlin and Silicon Valley. The firm focuses on Seed, Series A and select Series B investments in software, fintech, marketplace, consumer internet and digital health companies. DN Capital’s mission is to support entrepreneurs in creating global category leaders. DN was an early backer in companies such as Shazam, Endeca, Auto1, Go Student, Job and Talent, Mister Spex, Hometogo, OLX, Remitly and Quandoo.
About 360 Capital
360 Capital is a Venture Capital firm investing in early stage, innovative deeptech & digital enterprises across Europe. The firm has a 20-year track record of supporting talented tech entrepreneurs in developing ambitious & disruptive companies in a variety of sectors. Led by a diverse and experienced team of professionals located in Paris and Milan, 360 Capital has €400M of assets under management and an active portfolio of over 50 companies.
For more information visit: www.360cap.vc
About Fuse Venture Partners
Fuse invests in and supports internet-enabled scale-up ventures. Based in London and Berlin, Fuse focuses on disruptive European companies with global ambitions. Our investment expertise, corporate development and operational scaleup mindset ensures the companies we back take a leading position in their industries. Our founder, Spyro Korsanos, and Fuse have led dozens of Internet venture transactions creating more than €1bn in value for founders and investors. www.fuseventure.partners
About BNP Paribas Developpement
BNP Paribas Développement, is a subsidiary of BNP Paribas founded in 1988 and invests as a minority shareholder in high-performance SMEs. In 2016, BNP Paribas Développement created an entity dedicated to VC funding, which invests at the seed stage and later stages to support the growth of high potential startups. www.bnpparibasdeveloppement.com
About Partech Ventures
Founded in 1982 in Silicon Valley, Partech Ventures is a global investment firm with a team spread across offices in Paris, Berlin and San Francisco. Most Partners have been entrepreneurs themselves or have held management positions within tech companies. The partnership acts and invests as a single team, helping entrepreneurs build fast-growing tech and digital companies addressing large markets across multiple continents. Partech Ventures partners with entrepreneurs at the seed (Partech Entrepreneur), venture (Partech International) and/or growth (Partech Growth) stages. Companies backed by Partech Ventures have completed 21 initial public offerings and more than 50 major M&A transactions with leading international companies. Since 2012, the team has built a pioneering business development platform fostering synergies and business relationships between entrepreneurs and strategic partners. For more information visit: www.partechventures.com
About Fuse Venture Partners:
Fuse Venture Partners provides advice, investment and strategic backing to high-growth tech ventures in Europe and around the globe.
Based in London and Berlin, Fuse Venture Partners has helped leading tech businesses grow from start-up to
Fuse Venture Partners is an award-winning firm led by Managing Partner, Spyro Korsanos, named TMT Finance M&A Rising Star in 2017. Find out more at https://fuseventure.partners.