Vartana, a San Francisco, CA-based provider of managed checkout and BNPL options for businesses, launched with $57 million in seed funding.
The new capital included $7m in equity led by technology firm Audacious Ventures and $50m in debt from i80 Group, a specialty finance firm providing capital and support to breakthrough fintech and proptech companies. Participation in the round also included Flex Capital and several prominent angel investors including Shoaib Makani, Joe Kraus, Bipul Sinha, Allen Shim, Adil Syed and others.
The company intends to use the capital 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.
Founded in 2020 by Kush Kella and Ahmed Sharif, Vartana equips companies with a managed checkout platform to help them close more deals, faster. The platform provides technology buyers a variety of payment options while providing technology vendors tools to close contracts and generate sustainable cash with prepaid deals.
The company works with mid to late stage technology companies and their resellers. The platform pre-approves customers in the sales funnel for payment plans through real-time automated underwriting technology. Customers can then choose their preferred payment options and complete transactions within a few minutes through an integrated checkout experience.
FinSMEs
20/01/2022