8fig has taken another leap forward in their mission to help a growing number of eCommerce sellers achieve sustainable growth despite a turbulent global economy, thanks to an immensely successful Series B funding round.
They are excited to announce that they secured $140 million in funding at the close of the Series B funding round in April 2023. 8fig’s total funding to date is now $196.5 million.
The funding round, led by Koch Disruptive Technologies (KDT), included additional participation from existing investors Battery Ventures, Localglobe, Hetz Ventures, the Jesselson family, and Silicon Valley Bank, a division of First Citizens Bank.
With the completion of this latest round of funding, 8fig now has the financial freedom to continue to invest in small to medium sized eCommerce businesses during a time when many online sellers are facing cash flow crunches. The global economy is facing obstacles of its own, and many eCommerce sellers find themselves without the financial support and resources they need to compete in today’s economic climate.
8fig provides a comprehensive solution to this widespread challenge. Their unique AI CFO technology, which was recently featured in TechCrunch, provides fast, continuous funding as well as serious financial tools for supply chain management, financial planning, and even freight and logistics coordination. Through tried and tested strategy that combines high level financial management and funding, they have helped countless eCommerce sellers reach their growth goals.
“During this period of economic uncertainty, eCommerce businesses are struggling to reach their full potential,”
said Yaron Shapira, co-founder and CEO of 8fig.
“The global macroeconomic challenges we are experiencing make it difficult for eCommerce business owners to access the resources they need to succeed. 8fig is providing these online sellers with the financial support and tools necessary to thrive in any economic climate. The latest funding round has proven that the market has great confidence in 8fig and the important role 8fig continues to play in the ongoing growth of eCommerce.”
8fig was co-founded in 2020 by serial entrepreneurs Yaron Shapira (CEO), Assaf Dagan (CTO), and Roei Yellin (CRO). After working together at several successfully acquired startups in the fields of supply chains, payment systems, and risk management, they noticed a need for a comprehensive cash management and funding solution for small to medium sized eCommerce businesses. They created 8fig as an answer and a means to provide the capital and resources these online sellers need to grow their businesses.
