US start-up 8fig has raised $140 million in its Series B funding round, consisting of $40 million in equity financing and $100 million in debt financing. The company provides funding and supply chain management tools for e-commerce businesses and plans to invest in small and medium-sized e-commerce companies, as well as enhance its platform’s financial management capabilities.
Facts
- US start-up 8fig has secured $40 million in equity financing and $100 million in debt financing as part of its Series B funding round.
- Koch Disruptive Technologies led the equity funding, with participation from existing investors Battery Ventures, Localglobe, Hetz Ventures, the Jesselson family, and Silicon Valley Bank (SVB), which also provided the debt financing.
- The latest funding follows 8fig’s $50 million Series A round held in November 2021.
- Founded in 2020 and based in Austin, Texas, 8fig offers bespoke funding plans and supply chain optimization tools for e-commerce businesses.
- The company recently introduced a mobile app to enable customers to manage their funding plans on the go.
- 8fig plans to use the funding to invest in small and medium-sized e-commerce businesses and enhance its platform’s financial management capabilities, banking solutions, and cash flow prediction models.
- 8fig claims to have provided over $500 million in funding to date, with a 900% increase in its client base and an 800% increase in annual revenue in 2022. It has also expanded its employee headcount from 30 to 90.
