Vartana Raises $20 Million for B2B Sales Closing and Financing Platform

Vartana has raised $20 million to grow its B2B sales closing and financing platform.

The firm will use this Series B capital to continue its product innovation, scale its outreach to the software and hardware reseller market and other enterprises, expand the Vartana Capital Marketplace and double its headcount, according to a Wednesday (May 31) press release sent to PYMNTS.

The company provides a checkout platform for B2B software and hardware purchases that enables enterprises to offer flexible payment terms to their buyers and to embed this capability within a rep’s customer relationship management (CRM) tool, according to the release.

“In 2023, enterprise sales teams are under immense pressure to perform, and with budgets rapidly tightening, the market is more primed than ever for a tech forward solution,” Vartana Co-founder and CEO Kush Kella said in the release.

Vartana’s Series B round comes about four months after its $12 million Series A round announced in January and about 16 months after it secured $57 million in seed funding.

The latest round was led by Activant Capital, according to the announcement.

“Sales is the lifeblood of every business, and 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,” Activant Capital Partner Andrew Steele said in the release.

For sellers, easy point-of-sale financing can help close the deal, Kella told PYMNTS in an interview posted in February 2022.

If customers hear the price and then must go to a bank to arrange financing, they might also shop around with other sellers — meaning the initial seller loses the advantage it had, Kella said at the time.

“Imagine this: If you were to offer those monthly payments, there is no reason why that customer would have gone to a bank and then started consulting other sellers of this technology,” Kella said. “So, that’s one advantage, you can be sticky with your customer as a seller and offer them point-of-sale financing.”

There has been widespread interest in embedded finance because it helps address the needs of both buyers and sellers, according to “How BaaS and Embedded Finance Are Redefining Digital Experiences,” the May edition of the “Digital-First Banking Tracker®,” a PYMNTS and NCR collaboration.

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