Australian company Bizcap, together with its U.S. partner NewCo Capital Group, has bought 8fig, an Israeli fintech startup. 8fig has created a platform that helps e-commerce businesses manage their operations and get funding easily.
Founded in 2020, 8fig has provided over $500 million in funding to online sellers. The company helps small businesses grow by giving them the money they need to manage and expand their operations.
8fig created the “AI CFO” platform, which helps small businesses plan, forecast, and scale their operations. The platform combines tools for cash flow, inventory, and supply chain management, making it easier for businesses to run smoothly and grow.
With this acquisition, 8fig will keep its brand name and leadership team. At the same time, it will gain advantages from Bizcap’s global presence, business experience, and access to more funding.
Albert Gahfi, co-founder and co-CEO of Bizcap Global, emphasized the strategic alignment between the two companies. “We’re impressed not just by 8fig’s technology, but by how it’s built, with a strong focus on customer needs, adaptability, and long-term success,” Gahfi said. “8fig has the right platform, the right people, and the right mindset to make a global impact.”
To date, 8fig has raised $196.5 million in total. This includes $75 million in equity, which is the money invested by shareholders in exchange for ownership in the company.
In its latest funding round in May 2023, 8fig raised $140 million—$40 million in equity and $100 million in debt. The round was led by Koch Disruptive Technologies (KDT), with participation from Battery Ventures, LocalGlobe, Hetz Ventures, the Jesselson family, and Silicon Valley Bank, which provided the debt under its new ownership.
Yaron Shapira (CEO) and Assaf Dagan (CTO) have a strong background in tech and startups. They previously worked together at Mercury Interactive, which was bought by HP for $4.5 billion. They also helped start Capriza, which raised $70 million from Andreessen Horowitz, and Check, which was acquired by Intuit for $360 million.
They met Roei Yellin (CRO) while working on Qlarium, an underwriting platform supported by Prytek, which later became an investor in 8fig. Yellin has been involved in over 30 fintech investments during his time at Prytek.
Yaron Shapira, CEO of 8fig, said: “Our mission remains the same: empowering SMEs and e-commerce businesses to scale globally. With Bizcap’s talented team beside us, we’re ready to take that mission to new heights.”
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