Managed checkout and buy now, pay later (BNPL) provider Vartana has launched following a $57m seed funding round.
The investment included $7m in equity funding led by technology company Audacious Ventures as well as $50m in debt from speciality finance firm i80 Group. There was also participation from Flex Capital and angel investors such as Adil Syed, Bipul Sinha, Allen Shim, Joe Kraus and Shoaib Makani.
Established in 2020, Vartana claims its platform enables companies to offer flexible billing options such as monthly and quarterly terms without compromising cash flow, leading to a higher average order value, close rate, and sales efficiency.
The platform offers buyers a range of payment options while offering tech vendors the tools to close contracts and generate sustainable cash with prepaid deals.
According to Vartana, it intends to use the newly raised capital to invest in product development by doubling its engineering capacity and supporting its widening number of vendor partners with new hires in sales and operations.
Copyright © 2022 FinTech Global