PayPal Ventures has elevated its growth and expansion into automation through a new investment in Cymbio.
This latest development accelerates the rise of the firm, with it coming just months after Cymbio closed a $20M Series B round.
The firm’s CEO Roy Avidor commented on the move: “PayPal Ventures’ investment in Cymbio reflects the important role that Cymbio plays in enabling brands to shift to a multi-channel commerce model.
“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.”
Furthermore, it comes at a time when the importance of ecommerce continues to grow as well, with brands placing an increased focus on the omnichannel experience.
“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,” added 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.”