Fulfilment startup raises EUR 35 million
International expansion is the aim of the Paris-headquartered on-demand fulfilment startup Cubyn. The firm has collected EUR 35 million in a financing round led by Eurazeo and Bpifrance Large Venture with the participation of new partners like First Bridge Ventures and Fuse Venture Partners, and follow-on funding from DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNP Paribas Développement.
The startup plans to double its team of 85 to 170+ employees by the end of 2021. Moreover, international services are set to start with Spain and Portugal, launching in April 2021, to be 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.
Cubyn started its own solution in end-to-end ecommerce fulfilment in Q3/2019, confident of its success in a fast-growing and highly fragmented market estimated at EUR 500 billion worldwide. (sh)