The new capital includes USD 7 million in equity led by technology firm Audacious Ventures and USD 50 million 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 angel investors.
Vartana was built to equip companies with a managed checkout platform to help them close more deals. 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 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.
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.
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