8fig, an Austin, TX-based provider of a continuous funding and management platform for ecommerce businesses, raised $140M in Series B funding.
The round, which brought the total amount to $196.5M, was led by Koch Disruptive Technologies (KDT) with participation from existing investors Battery Ventures, Localglobe, Hetz, the Jesselson family, and Silicon Valley Bank, a division of First Citizens Bank.
The company intends to use the funds to expand its growth efforts and scale its funding capabilities to support an increasing number of ecommerce businesses, and to implement enhanced financial management capabilities with new banking solutions and cash flow prediction models that will include alerts and insights based on business performance.
Co-founded by Yaron Shapira (CEO), Assaf Dagan (CTO), and Roei Yellin (CRO) in 2020, 8fig provides ecommerce businesses with funding plans that are optimized according to their supply chain and cash flow needs to accelerate growth. Online sellers can manage their funding and remittance schedules using the platform, which also offers tools for supply chain management, financial planning, and freight and logistics coordination. The funds are disbursed incrementally and on an ongoing basis, and are equity-free. Using insights from its platform, online sellers can respond to real-time industry changes such as fluctuations in demand and shipment delays and can change their funding plans accordingly, if necessary.
Since its inception, the company has delivered over $500 million in funding to online sellers.
8fig’s operations are based out of Austin, Texas and Tel Aviv, Israel.
FinSMEs
09/05/2023