Partech and 360 in €1.1m round for Cubyn

Partech and 360 were joined by business angel Thierry Petit, the co-founder of recently listed discount retailer Showroomprivé. Other co-investing entrepreneurs included Scality's Jérôme Lecat, Priceminister's Olivier Mathiot, Fermat's Pascal Froux, Exapaq's Henri Tachdjian and Colizen's Jérôme Do. 

The institutional funding round, the first raised by Cubyn since inception, will be used to develop new products, make hires in the sales, technical and operational areas, and expand to new locations in France and abroad. Put together, the changes should push the 15,000 packages the startup claims to process every month to 100,000 by year-end.

According to unquote" data, the round is the third to feature Partech so far in 2016. The VC, which bolstered its Paris team with new senior associate Claire Godron last week, recently took part in Dayuse's €15m and Mesdocteurs' €1.2m rounds.

Meanwhile, the investment is the first to be announced by 360 this year and comes two months after the VC closed a dedicated seed fund on €35m.

Company
Founded in September 2014, Cubyn runs a platform allowing corporates to handle package deliveries online. At €1 per package, the Paris-headquartered business claims to have processed more than 50,000 shipments to date for almost 200 e-retailers (Fleux, Vinify), online marketplaces (Brocante Lab, Back Market) and large corporates (Drivy, Lagardère).

People
Partech Ventures – Romain Lavault (partner).
360 Capital Partners – Emanuele Levi (partner).
Cubyn – Adrien Fernandez Baca, Mathieu Lemaire (co-founders).

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