Vartana has revealed that it has raised a total of USD 19 million, including USD 12 million in a Series A round led by Mayfield with participation from Xerox Ventures, Flex Capital, and Audacious Ventures. i80 Group provided Vartana with a USD 50 million line of credit, which, according to Kella, will guarantee that financed deals can be managed through Vartana’s new capital marketplace.
The platform offered by Vartana, which the company refers to as a “sales closing” platform, is intended for use by vendors of hardware, software, and hardware that works with SaaS applications that are sold to other businesses. On the side of the capital market, algorithms created by Vartana normalize data, grade each buyer, and extend debt financing offers.
Buyers can request funds and receive quotes in real time from a network of banks and lenders thanks to the platform, which matches loan requests to buyers.