Business BNPL start-up Vartana raises $20m Series B
Vartana, a provider of managed checkout and buy now, pay later (BNPL) options for businesses, has raised a $20 million Series B round, led by Activant Capital.
The round, which also saw participation from Mayfield, Audacious Ventures and Flex Capital, will support the expansion of Vartana’s team, enhance its product offerings, and broaden its financial marketplace partnerships.
California-based Vartana was founded in 2020 by Kush Kella and Ahmed Sharif, who worked together at fleet management company KeepTruckin.
There, they “dealt with the pain of broken contract management and payments infrastructure required to go from signed order to cash collected”, the company says.
Vartana aims to be the “Affirm for B2B”.
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, according to the start-up.
“We envision Vartana as the quintessential product for sales teams, and for this vision to come to fruition, our platform must adapt to complex deal cycles involving multiple stakeholders,” Kella and Sharif say, adding that the firm concluded last year “with an impressive 600% YoY growth”.