Gaviti, an automation system that helps businesses collect and manage customer invoices, announced the closing of a $9m Series A funding led by the UK company Flash point VC with participation from Moneta VC, North First Ventures, TAU Ventures and LETA Capital.
The platform helps businesses use a user-centric application to manage their collections process and open a vital cash flow artery that is otherwise blocked with many convenient steps.
“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.”
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.
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