8fig raises $50m to reinvent supply chain management for e-commerce sellers
8fig, a start-up that provides equity-free funding and supply chain management tools for e-commerce sellers, has completed its $50 million Series A funding round.
Investors in the round include Battery Ventures, LocalGlobe, and Matt Robinson, serial entrepreneur and co-founder of Nested and GoCardless. As part of the round, Silicon Valley Bank will also provide a credit facility.
“Commercial loans are traditionally rigid in structure and carry a high cost of capital, a model that is not conducive to e-commerce sellers’ development,” comments Yaron Shapira, co-founder and CEO of 8fig. He says his company is “reinventing the way e-commerce sellers manage their supply chain”, helping them “scale with confidence”.
“Our rapid growth – more than 200% in just six months since our seed round – demonstrates the efficacy of 8fig’s growth planning technology,” Shapira adds.
8fig claims it has introduced a brand-new category of funding which includes growth planning technology.
“Our 8fig growth plan has allowed us to buy inventory on a quarterly basis. This brings our costs down, impacting our bottom line directly,” says 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 stock again, which means we can continue to build momentum and expand the breadth of our product assortment.”
8fig raised $6.5 million in Seed funding earlier this year, which was also led by Battery Ventures with participation by Hetz Ventures, LocalGlobe and the investment arm of the Jesselson Family.
8fig was launched in 2020 by Shapira, Assaf Dagan, and Roei Yellin. All three are long-standing residents of the payment processing and supply chain risk management ecosystem. The company has offices in Tel Aviv, Israel, and Austin, Texas, US.
“Together, we’re committed to our mission of propelling 10,000 sellers to eight-figure revenue by 2025,” states the start-up.