PayPal Ventures invests in commerce automation platform Cymbio | CTech
Summary
Cymbio, which has developed a brand-centric, marketplace and drop ship automation platform, announced on Thursday that it has received an investment from PayPal Ventures, the venture capital arm of the global payments company. This latest development comes just five months after Cymbio closed a $20 million Series B 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 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.” “Cymbio shares our ambition to support businesses of all sizes in expanding their digital commerce operations,” said Phil Valka, Senior Director, PayPal Ventures. “Multi-channel selling is one of the most effective ways for brands and merchants to reach more consumers and increase sales.”
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