Cubyn Shifts Logistics Business Model, Achieves 8x Revenue Growth, Then Furthers Expansion Using NetSuite

In mid-2019, Adrien Fernandez Baca sensed market saturation surrounding his five-year-old company, which handled first-mile logistics for small ecommerce merchants in France. So, he shifted his startup from pure logistics to end-to-end fulfillment. Cubyn entered a crowded market at a rate 30% lower than competitors, an advantage underpinned by its proprietary fulfillment algorithms and technology.


COMPANY

Cubyn

LOCATION

Paris, France

INDUSTRY

Services

REVENUE

€23 million

EMPLOYEES

100-250

NUMBER OF COUNTRIES

2

NETSUITE PRODUCT IMPLEMENTED

NetSuite OneWorld

IMPLEMENTATION PARTNER

Prerequis

LOCATION

Paris, France


“It was very easy to achieve European accounting management. We easily created a new sub in Spain in only two clicks.” Quentin Heliot, Finance Manager, Cubyn

A Foundation for Risk-Taking

Greenlit for growth
In the year following its business model shift, Cubyn’s fulfillment revenue grew by a factor of eight, and its gross merchandise volume (GMV) reached $250 million euros. Cubyn was in a position to raise significant cash, handle more complex customer needs, and expand the number of customers and geographies it served.
Scale for subsidiaries
Cubyn had been using NetSuite to run its accounting and financials since 2018, making it easy to access the financial reporting needed to instill confidence in its cash position and secure funding. Cubyn and its investors also recognised that NetSuite could scale to support the business’s international expansion goals.
Financials strong, funding secure
Cubyn closed a $35 million-euro round of fundraising in early 2021, which it is using to fuel international growth. With just a couple of clicks, NetSuite was ready to support accounting for a new subsidiary in Spain and can just as easily be provisioned for plans to enter Italy, Germany and the U.K.
Doubling revenue, twice
Cubyn projects that revenue will double by 2022, then double again by 2023. These projections are rooted in accurate financial data and forecasting—and backed by a platform that makes consolidating financials simple. Considering NetSuite’s adaptability thus far, Cubyn leadership is confident that the company’s aggressive growth targets are both realistic and achievable.
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