1st mile logistics pioneer Cubyn raises a $7M Series A round led by DN Capital to expand across Europe
• Cubyn doubled its user base in the last 6 months
• Company forecasts 3x year on year growth in 2017
• Team will launch a UK office in the near future
London/Paris, Thursday July 20th 2017 –
On-demand logistics startup Cubyn announces today a $7 million Series A round led by DN Capital with a participation from BNP Paribas Development and follow-on funding from original backers Partech Ventures and 360 Capital Partners. The funds will be used to strengthen the company’s leadership position in France, launch operations in new European cities, scale acquisition and consolidate the management team.
Cubyn is a pioneer in the fast-growing 1st mile logistics segment. In two years, the team has built a full-fledged tech-powered logistics platform. The company offers on-demand logistics to online businesses, picking up its customers’ orders on-site, packaging them and shipping them to any destination globally. For €1.00 per parcel, Cubyn allows clients to save up to 50% on their shipping costs. Merchants can easily create tailored shipment requests on Cubyn’s platform, e-commerce module or API, and schedule a pick up within a 2 hour window. Merchants can then track their order, from warehouse to wrapping, to shipping, to delivery.
“This new funding is a massive catalyst for Cubyn’s growth” said Adrien Fernandez-Baca, co-Founder and CEO at Cubyn. “Given the exponential growth of online sales, 1st mile logistics has become a major pain point, especially for e-merchants who struggle with the cost and difficulty in packing and dispatching items from space-constrained premises. DN Capital has a successful track record of driving logistics businesses to scale, and a strong footprint in the UK; they are the ideal partner to help us scale the business.”
“We look forward to rolling out Cubyn’s ambitious roadmap in the next 12 to 18 months with the advice, support and network from a first-class investor,” said Mathieu Lemaire, co-Founder and CTO at Cubyn.
The company forecasts over 3x year-on-year growth for 2017. Since inception, Cubyn has processed over half a million shipments, and in the first half of 2017, it has already processed more shipments than in the entire past year.
“At DN Capital, we are very active in offline to online business models that ease the burden of manual offline processes, with investment in companies such as Purplebricks in the real estate sector and Auto1 in the used car sectors, both of which are now multi-billion dollar companies,” said Thomas Rubens, Partner at DN Capital. “Cubyn has developed the best solution we have seen by far in the market for automating shipping logistics within the 1st mile. In the last 6 months, they have doubled their customer base and are now ideally positioned to become the market leader in this space. We look forward to supporting the team to achieve its ambitious goals.”
Cubyn received €1.1 million in 2016 in a seed funding from 360 Capital Partners, Partech Ventures, Price Minister’s Olivier Mathiot, and Showroomprive Founder and CEO Thierry Petit in February 2016. Earlier this year, Cubyn partnered with e-commerce giant Price-Minister, in a move to lay the foundation for its expansion to new markets.