# 8fig Raises $140M to Propel Ecommerce SMBs During Economic Turmoil Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-05-09 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: 8fig Raises $140M to Propel Ecommerce SMBs Meta Description: 8fig secures $140 million in funding to support ecommerce SMBs facing economic challenges, offering bespoke funding plans and supply chain management tools to URL: https://financedigest.com/8fig-raises-140m-to-propel-ecommerce-smbs-during-economic-turmoilhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/8fig-raises-140m-to-propel-ecommerce-smbs-during-economic-turmoil-1736814047480-compressed.jpg) # 8fig Raises $140M to Propel Ecommerce SMBs During Economic Turmoil **Austin, United States, May 9th, 2023, FinanceWire** [8fig](https://www.8fig.co), the continuous funding and management platform for ecommerce businesses, announced the closing of a $140 million Series B funding round in combined equity and credit facility 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. This brings 8fig’s total funding to date to $196.5 million. At a time when many online sellers are struggling with cash flow crunches due to flailing economic conditions and reduced consumer spending, 8fig is focused on directly contributing to the sustained success of the ecommerce businesses in its network. This includes delegating more capital to finance ecommerce businesses and enhancing its [supply chain](https://www.financedigest.com/daimler-truck-sees-higher-returns-as-supply-chains-demand-improve.html "Daimler Truck sees higher returns as supply chains, demand improve") management platform for online sellers. 8fig provides ecommerce businesses with bespoke funding plans that are optimized according to their supply chain and cash flow needs to [accelerate growth](https://www.financedigest.com/earthenware-tableware-market-to-witness-growth-acceleration-during-2021-2031-tmr.html "Earthenware Tableware Market to Witness Growth Acceleration During 2021-2031 |TMR"). Online sellers can manage their funding and remittance schedules using the 8fig platform, which also offers tools for supply chain management, [financial planning](https://www.financedigest.com/answered-your-faqs-about-financial-planning.html "Answered: Your FAQs about financial planning"), and freight and logistics coordination. The funds from 8fig are disbursed incrementally and on an ongoing basis, and is equity-free. Using insights from 8fig’s platform, online sellers can quickly and easily respond to real-time [industry](https://www.financedigest.com/rd-tax-important-exemptions-and-upcoming-changes-for-the-it-software-industry.html "R&D Tax: Important Exemptions and Upcoming Changes for the IT & Software Industry") changes such as fluctuations in demand and shipment delays and can change their funding plans accordingly, if necessary. “During this period of [economic uncertainty](https://www.financedigest.com/combatting-economic-uncertainty-in-2023-with-the-payments-sector.html "Combatting economic uncertainty in 2023 with the payments sector"), ecommerce businesses are struggling to reach their full potential,” said Yaron Shapira, co-founder and CEO of 8fig. “The global [macroeconomic challenges](https://www.financedigest.com/investors-reorient-portfolios-amid-macroeconomic-challenges.html "Investors reorient portfolios amid 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](https://www.financedigest.com/uks-finance-minister-sets-out-new-economic-approach-to-finance-bosses.html "UK’s finance minister sets out new economic approach to finance bosses") 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](https://www.financedigest.com/tmwi-appoints-matt-franceschi-as-deputy-managing-director-to-help-spearhead-the-integrated-media-agencys-ongoing-growth.html "tmwi appoints Matt Franceschi as Deputy Managing Director to help spearhead the integrated media agency’s ongoing growth") of ecommerce.” Since its inception, 8fig has delivered over $500 [million in funding](https://www.financedigest.com/ubs-clients-raise-650-million-for-biggest-yet-biotech-impact-fund.html "UBS clients raise 0 million for biggest yet biotech impact fund") to online sellers. Its success has resulted in [tremendous growth](https://www.financedigest.com/aluminum-cans-market-tremendous-growth-opportunity-trends-with-key-players.html "Aluminum Cans Market Tremendous Growth, Opportunity, Trends With Key Players") for the company, which increased its client base and annual revenue by 900% and 800% respectively in 2022. Over the same period, 8fig grew its global workforce threefold to 90 employees and further developed its platform’s capabilities, most recently releasing a [mobile app](https://www.financedigest.com/the-growth-of-mobile-fintech-and-the-impact-for-mobile-app-marketers.html "The growth of mobile fintech and the impact for mobile app marketers") version and a freight management and payment functionality. “8fig’s innovative approach to ecommerce, combined with its strong technology platform and experienced team, gives us great confidence in its [potential for growth](https://www.financedigest.com/functional-extracts-market-potential-growth-share-demand-and-analysis-of-key-players-forecasts-to-2029.html "Functional Extracts Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2029") and success,” said Isaac (Itzik) Sigron of Koch Disruptive Technologies. “As ecommerce continues to [expand rapidly](https://www.financedigest.com/ebo-ai-expands-uk-market-following-rapid-company-growth.html "EBO.ai expands into the UK market following rapid company growth"), we believe that 8fig is well-positioned to address the evolving needs of entrepreneurs in this space. We look forward to working closely with 8fig to support its mission of helping [ecommerce businesses](https://www.financedigest.com/trusting-in-trust-marks-enhancing-consumer-trust-in-your-ecommerce-business.html "Trusting in trust marks: enhancing consumer trust in your ecommerce business ") thrive and scale.” With the latest round of funding, 8fig will expand its [growth efforts and scale its funding capabilities to support an increasing number of ecommerce businesses](https://www.financedigest.com/uk-needs-to-make-politically-unpopular-reforms-to-boost-growth-business-group-says.html "UK needs to make politically unpopular reforms to boost growth, business group says") – helping them to continue growing amid economic uncertainty. Additionally, the company plans to implement enhanced financial management capabilities with new [banking solutions](https://www.financedigest.com/becoming-more-than-a-bank-adding-value-through-financial-solutions-as-a-service.html "Becoming more than a bank: adding value through financial solutions as-a-service") and cash flow prediction models that will include alerts and insights based on business performance, as part of its quest to become a one-stop shop for ecommerce business management. 8fig is also collaborating with ecommerce marketing agencies on a financial tool to evaluate their clients’ cash flow requirements and [mitigate risks by providing](https://www.financedigest.com/new-isla-standards-provide-the-foundation-for-resource-optimisation-efficiency-and-risk-mitigation.html "New ISLA Standards Provide the Foundation for Resource Optimisation, Efficiency and Risk Mitigation") alerts and actionable insights. **About 8fig** 8fig was co-founded by Yaron Shapira (CEO), Assaf Dagan (CTO), and Roei Yellin (CRO) in 2020. The founders, all serial entrepreneurs, [worked together at several successfully](https://www.financedigest.com/how-to-make-hybrid-working-successful.html "How to make hybrid working successful") acquired startups in the consumer app and fintech space. Their experience in supply chains, payment systems, and [risk](https://www.financedigest.com/treasury-and-risk-management-application-market-to-bring-in-revenue-of-us-7-1-bn-by-2028-comprehensive-research-report-by-fmi.html "Treasury and Risk Management Application Market to bring in revenue of US$ 7.1 Bn by 2028 – Comprehensive Research Report by FMI") management highlighted the need for an ecommerce solution for small and medium-sized business owners struggling to manage their cash flow and grow their businesses. 8fig’s operations are based out of Austin, Texas and Tel Aviv, Israel. ##### **Contact** **Avishai Sam Bitton** ##### **avishai@8fig.co** --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---