1st mile logistics pioneer Cubyn raises €12M and launches Cubyn Fulfillment
- Cubyn’s new fulfillment feature cuts industry standard costs by 30% for merchants
- Company brings on 3 key senior hires from Amazon to execute on the product rollout
- Refurbishment marketplace Backmarket already using Cubyn Fulfillment
London/Paris, DATE 2019 - On-demand logistics startup Cubyn announces today a €12 million round led by DN Capital with participations of Partech and 360 Capital Partners, BNP Paribas Developpement and a new contribution from BPI France. Cubyn also announces the launch of Cubyn Fulfillment, in partnership with leading refurbishment e-commerce platform Backmarket.
Cubyn entered the complex logistics industry in 2015 with an initial solution focusing on e-merchants willing to outsource their logistics while keeping their inventory. In four years and over 2 million shipments later, the company has built the best proprietary technology to streamline the logistics process for merchants, and to operate a fully integrated fulfillment solution at a fraction of the industry standard cost.
“Cubyn Fulfillment disrupts the old e-commerce third party logistics market from the ground up with a better, faster and fully integrated service at a 30% lower price point. We are giving merchants a way to outperform their competition in terms of cost, delivery quality and speed” says CEO & co-founder Adrien Fernandez Baca.
Cubyn’s new fulfillment offer enables merchants to integrate their e-commerce inventory in 1-click and to start scaling their sales without worrying about logistics, all while monitoring the process from one simple interface. When an online order is placed, it is automatically exported and processed from a Cubyn warehouse. Parcels are then injected directly into the best carrier’s network to cut transit time and improve delivery quality. Cubyn leverages shipping data from millions of parcels to improve the customer satisfaction for merchants and marketplaces alike.
"As early investors in companies such as Auto1 and Purplebricks, we have extensive experience supporting and advising companies that combine technological and operational excellence to drive the price down for all parties involved, whilst providing a higher quality service. This is exactly what Cubyn is doing and we believe Adrien and his team are uniquely positioned to replicate this formula in the logistic space," said Thomas Rubens, Partner at DN Capital.
With a total of 20M€ in funding, Cubyn is the uncontested market leader in the booming European e-commerce logistics sector. It currently employs 60 people, and will hire 50 more before the end of the year. The company is currently powered by a team of over 300 packers and couriers. Since inception, Cubyn has processed over 2 million shipments, and in the first half of 2019, it has already processed more shipments than in the entire past year.
To oversee the successful rollout of Cubyn Fulfillment, the company also announces today three recent strategic hires: a VP of Operations, Grégoire Hirtz, former Head of Amazon Prime for France; a Head of Operational Excellence, Raphaël Renault, former Head of France Cross-border Transportation at Amazon; and a Warehouse Manager, Marie Chaussade, former Operation Manager at Amazon Logistics.
The company’s ambitions go further than the issues of first mile logistics, for Cubyn wishes to pursue its vision by operating part of transportation in-house in order to offer express deliveries in urban areas. “We are very proud of being part of Cubyn’s adventure and work closely with its founders and early investors. As a pioneer in first-mile logistics, Cubyn has all the assets to expand its technology to delivery solutions and enhance the last mile experience”said Edouard Combette, Senior Investment Manager at BPI.
Cubyn received €6 million in 2017 in a Series A funding led by DN Capital and with contributions from BNP Paribas Developpement , 360 Capital Partners, Partech and €1 million in 2015 from Partech, 360 Capital Partners and Business angels Olivier Mathiot (Rakuten), Thierry Petit (ShowRoomPrive) in February 2016.
Grégoire Hirtz - VP of Operations
Before he joined Cubyn, Grégoire was Head of Amazon Prime for France. Before that, he was in charge of the supply chain for the categories Books, Music and Video Games of Amazon France, and then laid the foundations for the B2B logistics of Amazon.
Before he joined Amazon, Grégoire spent 8 years at McKinsey where he climbed the ladder until he became a Junior Partner.
Raphaël Renault - Head of Operational Excellence
Raphaël has a solid experience in logistics and transportation. Before he joined Cubyn, he was in charge of the transportation management for Amazon France & Europe.
Marie Chaussade - Warehouse Manager
With 3 years of experience at Amazon, Marie developed advanced skills in operational management of big teams, on the 2 biggest orders preparation sites of Amazon in France.
Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar. We bring together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents, with over €1.3B investment capacity. Investments range from $200K to $50M in a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Companies backed by Partech have completed more than 20 initial public offerings and more than 50 strategic exits above $100M. Our current portfolio: https://partechpartners.com/companies/
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