Cubyn, an on-demand logistics startup based in Paris, has raised $7 million in a Series A round led by DN Capital with participation from BNP Paribas Developpement, Partech Ventures, and 360 Capital Partners.
With this new influx of cash, Cubyn plans to expand beyond France into more European cities. The Cubyn platform allows sellers to book a collection for its deliveries. First mile logistics are a “major pain point” that has come with the boom in ecommerce, said Adrien Fernandez-Baca, CEO of Cubyn, which has processed over 500,000 shipments since it launched in 2014.
“Cubyn has developed the best solution we have seen by far in the market for automating shipping logistics within the first mile,” explained Thomas Rubensm partner at DN Capital. “In the last six 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 previously raised €1.1 million in seed funding and has partnered with French ecommerce site PriceMinister, owned by Rakuten. This Series A round marks the latest in a string of investments for on-demand logistics and delivery startups in Europe. London’s Weengs are Cubyn’s chief competitor with logistics companies like Germany’s sennder, Spain’s OnTruck, and Russia’s Deliver all raising rounds in recent months.