Investments

Paris-Based Logistics Startup Cubyn Raises $13.5M

https://www.pymnts.com/news/investment-tracker/2019/logistics-startup-cubyn-funding-round/

A logistics startup based out of Paris called Cubyn has raised about $13.5 million (€12 million) in a Series B funding round, according to a report.

Cubyn handles storage and shipping for merchants of all sizes. A merchant signs on with the company and gives them all of their different sales channels, like eBay, Shopify and Amazon. Then the merchant sends inventory to Cubyn, where it is stored in a warehouse. When someone places an order, it is auto packed and shipped using whatever carrier is the quickest and most affordable.

“We want to make affordable, world-class logistics accessible to every single e-merchant, whatever their size,” said Cubyn Co-founder and CEO Adrien Fernandez Baca. “Our typical customer is an e-merchant who sells across sales channels. Size can go from 500 to 50,000 orders shipped per month.”

Cubyn began as just a pickup and delivery service, but the firm aims to use its new capital to also offer “first mile” solutions that encompass the entire shipping process, from start to finish. The company claims that its services are 30 percent cheaper than its competitors.

“Most direct competitors are the traditional, third-party logistics players who missed the eCommerce revolution and lack technology intelligence,” says Baca. “We are 30 percent cheaper, with simpler, multi-channel integrations and higher delivery quality. Less direct competitors are the fulfillment offer of marketplaces. They do offer a good logistics experience at a good price, but only for orders going through their marketplace.”

The funding round was led by DN Capital, with 360 Capital Partners, Partech Ventures, BNP Paribas Development and BPIFrance all participating.

Baca said technology is what allows the company to thrive. “Our customers pay based on the number of parcels they ship,” he explained. “Logistics is a game of volume, and thanks to technology, we can manage volumes that couldn’t be managed by historical players. This allow us to offer … cheaper prices and still have great margins.”

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