Off the back of a $57 million seed funding round, Vartana, a provider of managed checkout and BNPL options for businesses, has confirmed its launch as the sector continues growth.
The new capital includes $7 million in equity led by technology firm Audacious Ventures and $50 million in debt from i80 Group, a specialty finance firm providing capital and support to breakthrough fintech and proptech companies.
Mapping out the firm’s offering and what sets it apart, Kush Kella, CEO and Co-Founder of Vartana commented: “We create a win-win scenario for both buyers and sellers of SaaS and other technology products.
“Buyers can solve budget constraints by paying on a schedule that works for them, while sellers get paid upfront and eliminate churn on deals. Our platform is the first-ever managed checkout platform to accelerate enterprise sales and we’re excited to work with stellar investors to help us bring it to market.”
In its launch, Vartana is seeking to bolster companies in the way they manage the checkout platform to help them close more deals, faster.
The Vartana platform provides technology buyers a variety of payment options while providing technology vendors tools to close contracts and generate sustainable cash with prepaid deals.
“Vartana offers an innovative, new checkout experience for companies that are buying and selling technology products. With the built-in functionality for vendors to offer financing options to their customers, Vartana’s checkout offering is a no-brainer for B2B vendors and can be a huge boost for their sales teams,” added Nakul Mandan, Founder and Partner at Audacious Ventures.
With the new capital, Vartana plans to invest in product development by doubling its engineering capacity and support its growing number of vendor partners with new hires in sales and operations.
“Businesses today expect to have flexibility on how they pay. Vartana provides a turn-key checkout and payments experience for B2B transactions that scales with its customers. We’re excited to be a key part of accelerating Vartana’s growth,” concluded Peter Frank, Principal at i80 Group.