8fig - Scale SmarterReviews of 8fig.co

The lack of communication between the funding team and your customer representative and the client is non existent. We had a quarterly review done the day we where supposed to get funding. We are now at a month of no funding even though they continue to say funding is on its way. ( there’s no problems and funding will be there). The funds where now eaten up by the next three repayments so those funds didn’t help expand the company. The first 6 months were great and than it went to lack of communication They continue to say the have to wait for there team in Israel to approve it. Well it’s been 4 weeks with no solution. Our plan is still on pause. I would give them a 0 star but the stars start at 1.

I can assure you 90% of these “positive reviews” are made up. We worked with this company and our store was doing huge revenues yet we had the lowest IQ rep, no ability to talk to their backend team, and no variation to funding terms or change refusals were explained to us. We tried for weeks and months to work with this difficult company and summarized that they’re nothing but heartless, dysfunctional loan sharks. We’re now looking to work with Wayflyer or some other capital finding agency that’s more dynamic and gets the pains and needs of a growing business. Stay away from 8fig if you want peace of mind.

8fig is a very shady organization. They are not easy to work with at all. Horrible communication between departments and extreme disorganization with their internal teams. As sales slow down they are incapable and incompetent in working with you. They frequently lie and make false claims against sellers. My sales slowed down by 50+ percent and I was making small payments based on the cashflow of my business during this time they still continue to draft your bank account for huge remittance payments that cause your business bank account to go negative which is a huge hassle and causes many problems / ruins your banking relationship / credit. Internally they are a wreck you can be in the process of remitting payments and they will file UCCs against the business serve you with threatening legal filings with amazon to highjack all sales proceeds. They also flat out lie and comment fraud. They stated my bank account was disconnected from the platform and I broke the contract which never happened I have proof via Plaid banking software showing this was a false fraudulent allegation to justify fling UCC against my company. While they are taking all sales proceeds they are still continuing to draft my bank account for 10K+ at a time. 8fig commits fraud in the remittance schedule they are showing on the live web app software that I was transferred $7500 more dollars than was given. This is extreme fraud. I have all banking records showing all deposits received from 8fig and there is a $7500 discrepancy, I have my attorney reviewing this fraud and will soon open a case against 8fig for theft by deception. I was stay far away from 8fig. I would recommending growing organically and self funding as much as possible. Traditional bank loans are 1000% superior than 8fig.

It started well, but with SVB collapse 8Fig were ‘experiencing operational issues’. Funding we were relying on was paused, it cost us more because of the delays and then after two weeks we received 25% of what was originally scheduled. But here’s the kicker. The 8Fig online account claims that we received way more funds than we did and when it was brought to their attention they refused to update it. Flat refused. So, what were we charged interest on when there is a set of false accounts? We are still not sure. It’s a poorly run, untrustworthy outfit that let us down and seems to have major transparency issues. Make of that what you will. *the response here from 8Fig is totally unrelated to the issue (looks like a cut and paste from someone in their ‘reputation team’. We had a promise of funds, they didn’t pay due to ‘operational issues’, the payment that was never made is still displayed on our dashboard as if it happened and they took weeks to respond to emails when we raised it.

They claim unlimited funding. Well, we got one-third of the funds, which they demanded it all of it back right after we bought the products. I spent a crap ton of time on a plan which went out the window as soon as the contract was signed, so to speak. They came up with a bogus reason. Anyways I would find other funding sources. It's been a trainwreck experience. Big letdown! We are a small US Veteran owned business with a bad experience. We thought we could grow with these guys. Nothing but a nightmare I would not share with anyone I hate, let alone people I care about! Run now while you still have a business!!!

Our experience with 8fig has been thoroughly disappointing. Communication with their team can be frustrating, and took us many repeated attempts to get detailed information about our funding application. The store and banking integration in their online application process broke repeatedly, and we received conflicting and incorrect automated email responses during the application process. There were discrepancies and communication breakdowns throughout because we conduct business in a non-USD currency, and the team did not seem to be familiar with businesses outside of the US. When we did finally sign a funding contract, the funds were not delivered on the specified date (understandably, because of the SVB banking meltdown), but after two weeks we received no proactive communication from 8fig and no funding. We did, however, receive a message indicating that we would be debited for our first remittance payment even though no funding had been received. It's hard to imagine a more convoluted, opaque, frustrating and disappointing experience than what we just went through with 8fig.