Venture Capital: 8fig, A Finance Provider To E-Commerce Sites, Lands $140M Series B

May 10, 2023 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2023/05/mark-konig-Tl8mDaue_II-unsplash.jpg

8fig has raised total funding to date of $196.5 million.

8fig, a company that offers growth and funding solutions to small to medium-sized eCommerce businesses, has secured $140 million in a Series B funding round. The funding was led by Koch Disruptive Technologies, with participation from existing investors Battery Ventures, Localglobe, Hetz Ventures, the Jesselson family, and Silicon Valley Bank.

With the additional funding, the company has the financial freedom to continue investing in online sellers during a time when many are facing cash flow crunches. The company’s unique AI CFO technology provides fast, continuous funding, financial planning tools, and supply chain management, among others. To date, it has provided online sellers with over $500 million and has grown its client base by 900% and its annual revenue by 800%. (8fig)

Additionally, it has increased its global workforce from 30 to 90 employees in just one year. The company plans to add enhanced financial management capabilities, banking solutions, and cash flow prediction models in the future. It recently also introduced a mobile app and a freight management and payment feature.

Co-founder and CEO Yaron Shapira said the latest funding round proves that the market has confidence in 8fig and the important role it continues to play in the ongoing growth of eCommerce.

Related Story:  Thrasio Nabs Another $750M To Acquire Amazon Merchants

Photo by Mark König on Unsplash

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…