The startup Cubyn, former winner of the City of Paris Innovation Grand Prix, has announced that it has raised €35 million, notably from Eurazeo and Bpifrance Large Venture.
The health crisis has accelerated the already well-established e-commerce trend. Without being able to go to a store, millions of consumers have turned to e-commerce to make their purchases. But while it only takes a few minutes to make an online purchase, it is a race for the merchant to ensure a timely delivery. Therefore, since 2014 the startup Cubyn has offered a logistics service dedicated to e-retailers to enable them to store their
Cubyn has established itself as a trusted third-party logistics provider on the French market by centralizing e-merchants’ goods in its warehouse. It also performs quality control, prepares orders and selects the best carrier to ship products and manage returns in case of problems. Since its inception, Cubyn has processed more than 5 million orders from its Paris warehouse and its customers include Backmarket, Rakuten, Fnac, Fit Track, Mirakl and Chef Club.
According to Cubyn, e-retailers can reduce their logistics costs by 30%. “E-commerce needs a neutral logistics network that is ultra-competitive in price and quality," says Adrien Fernandez-Baca, co-founder and CEO. “Today, e-logistics represents 15% of e-commerce revenues. Contradictorily, to date, there is still no efficient and scalable logistics solution other than the solutions offered by siloed marketplaces. We deliver in 1.8 days on average, while our market competitors deliver in 3.8 days.
This new round of financing will allow Cubyn to recruit more than 80 employees by the end of 2021 and to accelerate its international development, particularly in Europe, starting with Spain and Portugal next April, followed by Italy and the UK. The startup has also announced that it will soon open a 25,000m2 automated warehouse in the Paris region to increase its capacity and continue to reduce its costs and delivery times.