Gaviti Closes $9M Series A Funding After Recovering $6.2B in 2021

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The FinTech startup Gaviti helps companies recover their unpaid debts thanks to their automated platform. “In 2021, our clients recovered $6.2 billion in trade receivables by streamlining an otherwise cumbersome process,” said Yan Lazarev, co-founder and CEO of Gaviti.

Yan Lazarev, Founder and CEO of Gaviti

[Tel Aviv, ISRAEL] Gaviti, an automation system designed to help businesses collect and manage customer invoices, announced the closing of a $9m Series A funding round led by UK-based Flashpoint with the participation of Moneta VC, North First Ventures, TAU Ventures and LETA Capital. Their platform helps businesses use a user-focused application to manage their collections process and open a vital cash flow artery that is otherwise blocked with many convenient steps.

Receivables are the lifeline of any business. Yet, the process of collecting unpaid receivables by B2B companies requires a tedious process and corporate resources. Accounts Receivable departments lack an effective software solution that focuses on their needs. Similar to how sales teams have CRM to manage communication and sales processes, Gaviti offers these same capabilities to collections professionals with tracking and workflow tools.

By automating accounts receivable collections with a one-of-a-kind solution, departments can speed up the collections process, reducing stress on the accounting while increasing cash flow. “It’s a problem that all companies face, but none of them have figured out how to solve it without putting pressure on teams and customers,” said Yan Lazarev, co-founder and CEO of Gaviti. . “Our clients have reduced bad debts by 35% by automating otherwise inefficient manual processes.”

Taking a unique approach, Lazarev and his co-founder and CTO, Alex Komarovsky, developed Gaviti to be the only company to seamlessly integrate with existing ERPs using a single universal language. This allows for a quick onboarding process for new users and will allow teams to quickly start seeing a return on their investment soon after implementing this new software.

These funds will be used to expand Gaviti’s services. “Our primary focus continues to be synchronization with organizations to streamline this once time-consuming process,” Komarovsky said. “This round of funding will allow us to continue to grow and build new features that will enhance this new, streamlined collections process.”

“We are very pleased to partner with Gaviti, which provides companies with global payment options,” said Alexander Konoplyasty, Managing Partner at Flashpoint Venture Capital. “Thanks to our contribution, Gaviti will help hundreds of companies to go global, increase their revenues and reduce their overall costs. We have been following their journey for some time and firmly believe in the success of the company.

© Korea IT Times 무단전재 및 재배포 금지

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