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Gaviti, an automation system that helps companies collect and manage client invoices, announced the closing of a $9 million Series A funding led by UK-based Flashpoint VC with participation by Moneta VC, North First Ventures, TAU Ventures, and LETA Capital.
The platform helps companies utilize a user-focused application to manage their collections process and open a vital cash flow artery that is otherwise blocked by many hands-on steps.
“This is a problem all companies face, yet none of them have cracked how to address it without applying pressure on teams and customers,” said Yan Lazarev, Co-founder, and CEO of Gaviti. “Our clients lowered the number of overdue receivables by 35%, due to the automation of otherwise inefficient manual processes.”
These funds will be used to expand Gaviti’s services. “Our main goal continues to be synchronizing with organizations to streamline this once time-consuming process,” said Komarovsky. “This series of funding will allow us to continue expanding and creating new features that will improve these new streamlined collections process.”
“We are very excited to partner with Gaviti, who provides businesses with global payment options,” said Alexander Konoplyasty, Managing Partner at Flashpoint Venture Capital. “With our contribution, Gaviti will help hundreds of companies go global, increase revenues and reduce overall costs. We have been following their journey for some time, and strongly believe in the company’s success.”