8fig Raises Combined $50M in Series A to Provide eCommerce Sellers with Flexible Capital and Supply Chain Tools | Business

By Editor On Nov 18, 2021

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AUSTIN, Texas – (BUSINESS WIRE) – Aug. November 2021–

8fig, the provider of equity-free flexible financing and supply chain management tools for e-commerce sellers, today announced the completion of a $ 50 million Series A financing round. 8fig will use the funds to accelerate growth and expand its lending capacity to more e-commerce companies that want to realize their potential. Investors in the round include Battery Ventures, LocalGlobe and Matt Robinson, serial entrepreneurs and co-founders 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 financing capabilities to more e-commerce sellers.

“By reinventing the way e-commerce sellers manage their supply chain, 8fig is helping these companies scale confidently,” said Yaron Shapira, co-founder and CEO of 8fig. “Our rapid growth – more than 200% in just six months since our seed round – shows the effectiveness of 8fig’s growth planning technology. With this new support, we look forward to ramping up operations as we relieve e-commerce sellers of the fear of funding. “

Founded by a team of supply chain experts and engineers, 8fig introduced a brand new financing category that also includes growth planning technologies. This enables end users to intelligently manage their supply chains, optimize cash flows, and receive continuous capital inflows tailored to their respective growth plans. By analyzing and validating each seller’s growth path, 8fig provides accurate and adaptable financing on more attractive terms without using equity. This model provides the flexibility to adjust growth capital and remittance plans as needed for real-time events, including delayed deliveries and fluctuations in demand. The bespoke financing approach has been well received by 8fig’s growing list of sellers as they handle global shipping disruptions, experience fluctuating freight costs, and evaluate opportunities for expansion.

“Events over the past 18 months have sparked a surge in emerging next-generation e-commerce sellers,” said Roei Yellin, Co-Founder and CRO. “Commercial credit has traditionally been rigid and has a high cost of capital, a model that is not conducive to the development of e-commerce sellers. Our innovative technology combined with flexible, unlimited capital gives aspiring online sellers the line of sight and confidence they need to scale up quickly. “

eMarketer predicts that U.S. consumers will spend $ 933 billion on e-commerce in 2021 to fuel 8fig’s potential market size and the exponential growth of online sales. This is a 17.9% year-over-year increase and represents 15.3% of total domestic retail sales.

“Our 8fig growth plan has allowed us to buy inventory on a quarterly basis. This lowers our costs and has a direct effect on our bottom line, ”said Alexandra Wiatr, Amazon seller and current 8fig customer in the Beauty and Wellness category. “Most importantly, we NEVER have to worry about running out of supplies again, which means we can continue to gain momentum and expand the breadth of our product range.”

Earlier this year, 8fig had raised $ 6.5 million in seed funding, which was also led by Battery Ventures, with the participation of Hetz Ventures, LocalGlobe and the Jesselson family investment arm.

About 8fig

8fig is a fintech platform that aligns continuous, adaptable capital with the needs of the supply chain. Their innovative planning and financing technology was developed by payment processing and supply chain risk management experts Yaron Shapira, Assaf Dagan and Roei Yellin. 8fig offers growth plans combined with low-cost capital, sales forecasts, quantities and profit breakdowns for ecommerce brands to reverse growth and eliminate cash flow crisis. The company has offices in Tel Aviv and Austin, TX. For more information, please visit 8fig.co.

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CONTACT: Aidan O’Connor

Prosek partner

646.818.9283

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KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES ONLINE RETAIL DATA MANAGEMENT RETAIL TECHNOLOGY SOFTWARE FINANCING

SOURCE: 8fig

PUB: 11/18/2021 8:45 a.m. / DISC: 11/18/2021 8:45 a.m.

http://www.businesswire.com/news/home/20211118005668/en

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