Tel Aviv, Israel-based startup Gaviti raised USD 9 million on April 5, 2022. The funding is a part of the Series A round. UK-based Flashpoint led the Series A funding for Gaviti.
Besides, Moneta VC, North First Ventures, TAU Ventures, and LETA Capital participated in the round. Gaviti is a software-as-a-service (SaaS) platform that helps companies manage and collect client invoices.
Purpose of Funding for Gaviti
With the latest capital, Gaviti will expand its services. The fresh capital will help to accelerate growth. Moreover, it will focus on improving existing tools that help companies stay on top of unpaid invoices.
Gaviti will introduce additional FinTech solutions such as funding, factoring and receivables insurance products to help ensure a more reliable cash flow for enterprise customers.
It will also build out additional financial management services with the recent investment.
What the founder has to say
Speaking on the recent fundraise, Alex Komarovsky, Co-founder and CTO at Gaviti, said, “Our main goal continues to be synchronizing with organizations to streamline this once time-consuming process.
“This series of funding will allow us to continue expanding and creating new features that will improve this new streamlined collections process,” he further added.
Collecting outstanding receivables for B2B businesses demands a tedious process and company resources. Accounts receivable departments lack an effective software solution that focuses on their needs. Addressing this problem, Yan Lazarev, Co-founder and CEO of Gaviti, says, “This is a problem all companies face, yet none of them has cracked how to address it without applying pressure on teams and customers. Shockingly, there was no adequate solution on the market, which brought us to begin developing an easy-to-use solution that streamlined collection processes, the same way sales and marketing teams have their own cloud-based SaaS tools.”
“Our clients lowered the number of overdue receivables by 35% due to the automation of otherwise inefficient manual processes. In 2021, our clients recovered USD 6.2 billion in A/R Receivables by streamlining an otherwise tedious process,” he shared.
What the investor has to say
Alexander Konoplyasty, the Managing Partner at Flashpoint Venture Capital, said, ” “We are very excited to partner with Gaviti, who provides businesses with global payment options. Gaviti will help hundreds of companies go global, increase revenues, and reduce overall costs with our contribution. We have been following their journey for some time and strongly believe in the company’s success.”
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