PayPal Ventures Invests in Cymbio For Multichannel Commerce Model
Cymbio, a marketplace and dropship automation platform, announced an investment from PayPal Ventures, the venture capital arm of the global payments company. As marketplaces’ share of eCommerce grows and retailers expand their drop shipping operations, brands are seeking solutions to easily integrate their product catalogues and help manage operations across channels. Cymbio’s marketplace and dropship […]
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Cymbio, a marketplace and dropship automation platform, announced an investment from PayPal Ventures, the venture capital arm of the global payments company.
As marketplaces’ share of eCommerce grows and retailers expand their drop shipping operations, brands are seeking solutions to easily integrate their product catalogues and help manage operations across channels.
Cymbio’s marketplace and dropship automation platform acts as a technology bridge to relieve brands from the burdensome process of individually connecting with each marketplace and retailer, so they can focus on the core of their business. Cymbio offers a centralised platform enabling seamless and scalable retail connections to 800+ marketplaces, retailers, and widely used eCommerce solutions worldwide.
“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, who co-founded the company along with Mor Lavi and Gilad Zirkel.
“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 shares our ambition to support businesses of all sizes in expanding their digital commerce operations. Multi-channel selling is one of the most effective ways for brands and merchants to reach more consumers and increase sales,” said Phil Valka, Senior Director, PayPal Ventures. “We’re excited to invest in an innovative solution that solves customers’ pain points around data integrations, thereby unlocking further growth opportunities.”
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 hyper growth and expand capabilities to better serve clients, including financial services offering for the hundreds of brands on its platform slated for Q2 2022.
