CTalk“We want to democratize e-commerce”
CTalk
“We want to democratize e-commerce”
Yaron Shapira, CEO at 8fig, spoke to CTech about how 8fig is supporting small e-commerce businesses
Yaron Shapira
(Sinai David)
“Most of the players today in the market are mainly focused on financing, which is very important, of course, but we believe at 8fig that this isn’t the full story,” 8fig CEO Yaron Shapira told CTech at Calcalist's e-commerce conference this week. “Just providing the cash is important, but if you don’t create a cash flow plan, not for the next three months, not just for the holiday season, but for the next year, you are missing a very important part.
“The edge that I think we are bringing to the market is the technology edge, the fact that we are able to use AI, working with hundreds of thousands of data points from all the merchants that we are serving, that enables our AI to be very focused and very successful in helping them to plan their businesses.”
Founded in 2020, 8fig is focused on enabling e-commerce small businesses to achieve “8-figure” revenue through flexible funding and supply chain planning tools. They’ve raised a total of $196.5 million to date.
“8fig wants to help small e-commerce sellers,” said Shapira. “We want to democratize e-commerce. We want to enable small businesses to succeed, and we think that using our AI-CFO technology and with the funding that we provide them, they are able now to professionally compete with the big corporations.”
You can watch the full interview in the video above.
