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PayPal’s venture arm invests in Israeli e-commerce platform Cymbio

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US fintech giant Paypal has invested in Israeli company Cymbio, a developer of a digital commerce platform, through its venture arm PayPal Ventures, the firms said on Thursday.

The investment amount was not disclosed, and came four months after Cymbio raised $20 million in a funding round led by Palo Alto-based firm Corner Ventures (formerly DAG Ventures), which has invested in companies like GrubHub and Nextdoor, as well as a number of Israeli companies like Healthy.io, a medical tech outfit, and Melio, a fintech startup that recently hit a valuation of $4 billion.

Cymbio’s existing investors like Israeli businessman Udi Angel and Yuval Tal, co-founder of payments platform Payoneer, also participated in the Series B round in November, as did new investors Chris North, former managing director of Amazon UK, and Jeff Weiser, former CMO at Shopify.

Cymbio was founded in 2014, developing a marketplace and dropship automation platform that it says helps brands reach local retailers and grow their sales revenue. Through the........

© The Times of Israel

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