US global payments giant Paypal has invested in Cymbio, an Israeli company that has developed a drop ship and marketplace automation platform. The US company has invested in Cymbio through its investment arm, Pay Pal Ventures, Cymbio announced on Thursday.
Financial details on the investment were not disclosed. This investment comes just four months after Cymbio closed a $20M Series B funding round.
“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 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’s platform aims to help brands connect with any retailer and marketplace and enables digital sales growth for brands. The company’s technology can automate the full retail set-up for brands without changing any current systems or processes.
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 the second quarter.
“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.”