Vartana has raised $20m in a Series B funding round led by Activant Capital. This follows the company’s $12m Series A funding round in January.
Vartana says it is building a unique, fully-embedded enterprise checkout platform designed for B2B software and hardware purchases. The platform provides customers with the capabilities they need to close deals faster, retain customers, and unlock cash flow.
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Large software and hardware purchases are often financed by a third-party lender. This gives customers flexibility on how and when to pay. According to Vartana, the incumbent process of offering flexible payments is full of paperwork and intentionally opaque, making it slow and difficult to scale. It bogs down sales teams when speed and customer service matter most—during the deal-closing process. As companies tighten budgets and the SaaS industry faces staff cuts and potential customer retention crisis, there is an even deeper need for enterprises to offer flexible payment terms to their buyers.
Vartana: supercharging sales team workflows
Vartana says it is bringing the long-overdue consumer-grade fintech innovation to the enterprise sales suite. It claims to supercharge sales teams’ existing workflow by seamlessly embedding within a rep’s CRM. This is, it says, a process that can now be completed in as little as 30 minutes. Once live, Vartana can streamline the loan origination process—which traditionally takes two weeks—to as few as three minutes. Vartana claims that customers see up to a 30% conversion uplift.
“In 2023, enterprise sales teams are under immense pressure to perform. With budgets rapidly tightening, the market is more primed than ever for a tech forward solution. We’re thrilled to have found an investor like Activant Capital to further our development into the B2B payments space. We’re confident that this strategic partnership will help us build the products that help all companies exceed their growth targets.” said Kush Kella, Vartana Co-founder and CEO.
Capital to boost product innovation, double headcount
Vartana will use the fresh growth capital for continued product innovation, scaling their go-to-market to more enterprises. This includes the software & hardware reseller market. It will also expand the Vartana Capital Marketplace. This aims to, ensure Vartana can offer customers the highest loan approvals, at the best rates. Vartana also plans to rapidly scale its team, aiming to double headcount by year’s end to around 100 people.
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By GlobalData“We’ve got to know the embedded finance and checkout space intimately over the last three years. One of our key learnings is the most critical transactions aren’t happening on e-commerce. They are within the sales team. Sales is the lifeblood of every business. Vartana is uniquely bringing modular, best-in-class embedded fintech to the sales suite of some of the largest public and private enterprises in the world.” added Andrew Steele, Partner at Activant.
