Latest funding round follows strong year of client growth as global eCommerce infrastructure booms
8fig, the provider of equity-free flexible funding and supply chain management tools for eCommerce sellers, today announced the completion of a $50 million Series A funding round. 8fig will use the funds to accelerate growth and expand its lending capabilities to more eCommerce businesses looking to realize their potential. Investors in the round include Battery Ventures, LocalGlobe, and Matt Robinson, serial entrepreneur and co-founder of Nested and GoCardless. As part of the round, Silicon Valley Bank will also provide a credit facility to accelerate 8fig’s growth and expand its funding capabilities to more eCommerce sellers.
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“The events of the last 18 months have precipitated a surge in emerging, next-generation eCommerce sellers”
“By reinventing the way eCommerce sellers manage their supply chain, 8fig is helping these businesses scale with confidence,” said Yaron Shapira, Co-Founder and CEO of 8fig. “Our rapid growth – more than 200% in just six months since our seed round – demonstrates the efficacy of 8fig’s growth planning technology. With this new support, we look forward to ramping up operations as we take the fear out of financing for eCommerce sellers.”
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Founded by a team of supply chain experts and engineers, 8fig has introduced a brand-new category of funding that includes growth planning technology. This allows end-users to intelligently manage their supply chains, optimize cash flows, and receive continuous capital infusions tailored to their respective growth plans. By analyzing and validating each seller’s growth trajectory, 8fig delivers accurate and adaptable funding on more attractive terms, all without taking equity. This model provides the flexibility to adjust growth capital and remittance schedules to real-time events as needed, including delayed shipments and fluctuations in demand. The bespoke approach to financing has been well-received by 8fig’s growing roster of sellers, as they navigate global shipping disruptions, experience fluctuating freight costs, and assess opportunities to expand.
“The events of the last 18 months have precipitated a surge in emerging, next-generation eCommerce sellers,” said Roei Yellin, Co-Founder and CRO. “Commercial loans are traditionally rigid in structure and carry a high cost of capital, a model that is not conducive to eCommerce sellers’ development. Our innovative technology combined with flexible, uncapped capital gives emerging online sellers the line of sight and confidence they need to scale quickly.”
