Austin, TX-based 8fig, a provider of a continuous funding and management platform for ecommerce businesses, has raised $140 million in Series B funding, bringing the total raised to $196.5 million.
The funding round 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 plans to use the funds to scale its funding capabilities in support of a growing number of ecommerce businesses, as well as to implement improved financial management capabilities with new banking solutions and cash flow prediction models that include alerts and insights based on business performance.
Co-founded in 2020 by Yaron Shapira (CEO), Assaf Dagan (CTO), and Roei Yellin (CRO), 8fig offers ecommerce businesses funding plans tailored to their supply chain and cash flow needs in order to accelerate growth. The platform allows online sellers to manage their funding and remittance schedules while providing tools for supply chain management, financial planning, and freight and logistics coordination. The funds are disbursed incrementally and on an ongoing basis, without requiring equity. Online sellers can leverage insights from the platform to respond to real-time industry changes, such as fluctuations in demand and shipment delays, and adjust their funding plans accordingly, if needed.
Since its inception, the company has provided over $500 million in funding to online sellers.
8fig operates out of Austin, Texas, and Tel Aviv, Israel.