Total amount raised
$196.5 Million
Latest funding date
5/1/2023
Location
8fig has successfully raised funding through four rounds, attracting notable investors such as LocalGlobe and Hetz Ventures. The platform offers cash flow planning technology and continuous capital to support e-commerce brands.
8fig provides fast, flexible funding solutions tailored to the needs of Amazon and Shopify sellers, with offers available within 24 hours. Keep reading to explore the intricacies of 8fig's fundraising journey and the investors backing this innovative platform.
What Is 8fig?
8fig is a growth platform designed to assist e-commerce brands with cash flow planning technology and continuous capital. The company operates in the e-commerce, financial services, and fintech industries and is based in Austin, Texas, United States.
Founded to support Amazon and Shopify sellers, 8fig offers fast, flexible, and scalable funding solutions. The company has an employee count ranging from 51 to 100 and has been acquired by Bizcap.
How Much Funding Has 8fig Raised?
- Seed Round
- Amount Raised: USD 6,500,000
- Date: June 2021
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the platform, enabling 8fig to provide flexible funding solutions to e-commerce businesses.
- Series A
- Amount Raised: USD 50,000,000
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations to meet the growing demand from e-commerce businesses.
- Series B
- Amount Raised: USD 40,000,000
- Date: May 2023
- Lead Investors: Koch Disruptive Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform with new financial management capabilities, banking solutions, and cash flow prediction models, supporting e-commerce businesses during economic uncertainty.
- Debt Financing
- Amount Raised: USD 100,000,000
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide more capital to finance e-commerce businesses and upgrade 8fig’s supply chain management platform.
Total Amount Raised: USD 196,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Koch Disruptive Technologies (KDT)
- Details: KDT is a subsidiary of Koch Industries, focusing on investing in high-growth companies that are innovating and disrupting their industries.
- Investment Focus Areas: Technology, energy, industrials.
- Notable Investments: Various technology startups and industrial innovations.
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm that invests in companies at all stages of growth.
- Investment Focus Areas: Software, IT infrastructure, consumer technology, industrial technology.
- Notable Investments: Glassdoor, Sprinklr, Coupa Software.
- Localglobe
- Details: Localglobe is a venture capital firm that focuses on seed and impact investments.
- Investment Focus Areas: Early-stage technology companies, particularly in the UK and Europe.
- Notable Investments: TransferWise (now Wise), Zoopla, Citymapper.
- Hetz Ventures
- Details: Hetz Ventures is an Israeli venture capital firm that invests in early-stage technology companies.
- Investment Focus Areas: Deep tech, enterprise software, cybersecurity, fintech.
- Notable Investments: Granulate, Trigo, Dataloop.
- The Jesselson Family
- Details: The Jesselson family is known for its philanthropic activities and investments in various sectors.
- Investment Focus Areas: Diverse, including technology, real estate, philanthropy.
- Notable Investments: Specific notable investments are not detailed in the sources.
What's Next for 8fig?
8fig stands at the cusp of significant growth opportunities, driven by the expanding e-commerce sector. With plans to enhance their financial management capabilities and introduce new banking solutions, the company is poised to capture a larger market share. Their recent funding will also support the development of cash flow prediction models and collaborations with e-commerce marketing agencies, providing actionable insights to their clients.
Future fundraising opportunities appear promising, given the confidence shown by investors in the recent Series B round. As 8fig continues to scale its operations, additional funding rounds or strategic partnerships could further bolster their growth. However, the company must navigate challenges such as economic uncertainty and competition from other fintech firms, ensuring their technology remains scalable and reliable.
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