Cymbio, an Israeli startup that offers a marketplace automation platform, has revealed that PayPal Ventures is now one of its investors. The amount invested by the venture capital arm of the global payments company was not revealed.
The news comes just a few months after Cymbio raised $20 million in a series B round last November.
Founded in 2015 by CEO Roy Avidor, Mor Lavi, and Gilad Zirkel, Cymbio provides a platform to brands, such as Steve Madden, Marchesa, Camper, Micro Kickboard, and hundreds of others, that connects them directly to their retail partners, enabling a true “Plug & Sell” reality. The Company’s technology automates all drop ship and marketplace operations for brands with any retailer, including the complete set-up, integrations, onboarding and daily management of streamlined product data, imagery, mapping, taxonomy, inventory syncing, orders, billing, tracking, returns, reports and more.
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“PayPal Ventures’ investment in Cymbio reflects the important role that Cymbio plays in enabling brands to shift to a multi-channel commerce model,” said CEO Roy Avidor. “This investment will support Cymbio in the next stage of our journey as we continue to help brands accelerate their digital sales growth by connecting them to a global retail ecosystem. We are grateful for the opportunity to work with the PayPal Ventures team, and we are excited to start enabling our customers with the financial tools needed to run efficient drop ship and marketplace operations.”
Cymbio’s platform is compatible with many different systems and protocols used by retailers and marketplaces, and automates all drop ship and marketplace operations, including integration, set-up, and day-to-day management of the full relationship between brands and retailers. The investment from PayPal ventures will allow Cymbio to continue to invest in the company’s hypergrowth and expand capabilities to better serve clients, including a financial services offering for the hundreds of brands on its platform slated for Q2 2022.