Israeli fintech platform 8fig at the moment introduced the completion of a $50 million Sequence A financing spherical. Traders within the spherical embrace Battery Ventures, LocalGlobe, and Matt Robinson, serial entrepreneur and co-founder of Nested and GoCardless. As a part of the spherical, Silicon Valley Financial institution may even present a credit score facility to speed up 8fig’s progress and broaden its funding capabilities to extra eCommerce sellers.
On-line retailer progress platform 8fig raises $6.5m
8fig will use the funds to hurry up progress and broaden lending capabilities to extra eCommerce companies striving to meet their potential.
With places of work in Tel Aviv and Austin, Texas, 8fig was based in 2020 by CEO Yaron Shapira, CTO Assaf Dagan and CRO Roei Yellin. 8fig’s core mission is to assist on-line sellers develop as quick as attainable to turn out to be 8-figure sellers with out giving up an fairness stake of their enterprise. The corporate seeks to realize this by offering equity-free versatile funding and provide chain administration instruments for eCommerce sellers.
Shapira stated, “By reinventing the best way eCommerce sellers handle their provide chain, 8fig helps these companies scale with confidence. Our fast progress – greater than 200% in simply six months since our seed spherical – demonstrates the efficacy of 8fig’s progress planning know-how. With this new help, we look ahead to ramping up operations as we take the concern out of financing for eCommerce sellers.”
Yellin added, “The occasions of the final 18 months have precipitated a surge in rising, next-generation eCommerce sellers. Industrial loans are historically inflexible in construction and carry a excessive value of capital, a mannequin that isn’t conducive to eCommerce sellers’ improvement. Our revolutionary know-how mixed with versatile, uncapped capital offers rising on-line sellers the road of sight and confidence they should scale rapidly.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on November 21, 2021.
© Copyright of Globes Writer Itonut (1983) Ltd., 2021.