8fig, an e-commerce funding startup, has recently secured $140 million in funding. This is a significant milestone for the company, which aims to provide financial support to e-commerce businesses that are looking to grow and expand their operations.
The funding round was led by Tiger Global Management, a New York-based investment firm that has previously invested in companies such as Facebook, LinkedIn, and Spotify. Other investors in the round included B Capital Group, Greycroft, and D1 Capital Partners.
So, what exactly does 8fig do? The company provides funding to e-commerce businesses in the form of revenue-based financing. This means that instead of taking an equity stake in the business, 8fig provides funding in exchange for a percentage of the company’s future revenue.
This type of financing can be particularly attractive to e-commerce businesses that are looking to grow quickly but may not have the collateral or credit history required to secure traditional bank loans. With revenue-based financing, businesses can access the capital they need without taking on additional debt or diluting their ownership stake.
In addition to providing funding, 8fig also offers a range of other services to help e-commerce businesses grow and succeed. These include access to a network of experienced entrepreneurs and industry experts, as well as tools and resources to help businesses optimize their operations and increase their revenue.
The $140 million in funding will allow 8fig to expand its operations and provide even more support to e-commerce businesses. The company plans to use the funds to increase its lending capacity and expand its team of experts and advisors.
Overall, the success of 8fig is a testament to the growing importance of e-commerce in today’s economy. As more and more businesses move online, there is a growing need for financial support and resources to help them succeed. With its innovative revenue-based financing model and commitment to supporting e-commerce businesses, 8fig is well-positioned to play a key role in this rapidly evolving industry.
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