A supply chain management software developer and financing partner to both B2B and B2C ecommerce sellers has raised a big new round of funding.
The $140 million raised by Austin-based 8fig will be used by the company to make upgrades to its supply chain management software platform for online sellers and for offering B2B and B2C sellers new ways to finance operations and expansion.
“8fig is providing these online sellers with the financial support and tools necessary to thrive in any economic climate,” says CEO Yaron Shapira. “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.”
The latest round of investment is from Koch Disruptive Technologies with participation from existing investors Battery Ventures and others. Since 8fig’s founding in 2020, it has raised more than $195.6 million in financing. It has provided more than $500 million in financing to online sellers, the company says.
“The global macroeconomic challenges we are experiencing make it difficult for ecommerce business owners to access the resources they need to succeed,” Shapira says.
The company provides growth plans for small and medium-sized ecommerce businesses that have some sales history. The plan includes funding and financial tools for supply chain management, financial planning, and freight and logistics coordination, according to Crunchbase.com.
With the new funding, 8fig plans to implement enhanced financial management capabilities for sellers, including more banking alternatives and cash flow prediction models that will include alerts and insights based on business performance. 8fig also says it is collaborating with ecommerce marketing agencies on a financial tool to evaluate their clients’ cash flow requirements and mitigate risks by providing alerts and actionable insights.
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