Stavar Solutionsa leading provider of SaaS solutions for business expenditure management and the distribution of costs for complex companies such as alternative asset managers, today a serial A financing of $ 55 million Elephant known. The minority stake in the next expansion phase of the platform will drive forward, which has revolutionized the manner of how complex companies manage its business outputs, cost distributions, suppliers, contracts, budgets, payments and much more. It will drive further product innovations, the expansion of the integrated payment functions within the flagship product Stavpay and the hiring of new employees in order to meet the rapidly increasing demand.
Stavtar was from Steven Petersen and Draws Battha former CFO or CTO, co -founded to solve a problem that they knew first -hand: the overwhelming dependence on manual processes and spreadsheets for the management of business expenses and cost distributions in the area of alternative asset management. After years of experience with operational bottlenecks and fragmented systems, they started to develop a modern, customizable and data-controlled platform that is specially tailored to the requirements of financial and business teams in hedge funds, private equity companies, family offices and other complex companies. Stavtar has grown by over 1300 % in the past three years and is now the platform of choice for more than 100 alternative asset managers who manage a fortune of $ 2.4 trillion. The StAVPay platform supports automated workflows for supplier, contract and invoice management, expenses accounts, payments to third parties, budgets, tax returns, user-defined reports and much more. She transforms the entire process of its customers into an approval or rejection process and at the same time gives them insights into their business in real time that they have never had before.
“We have developed Stavtar to improve something that we could not ignore – outdated, manual and isolated financial processes, which hinder powerful teams,” said Steven Petersen, co -founder of Stavtar. “Thanks to our partnership with Elephant, we can concentrate on the essentials: to deliver innovative solutions for companies. We look forward to growing faster, progressing and the limits of what is possible with software for complex companies.”
“We have developed Stavtar to tackle the actual problems of complex companies,” said Draws Batth, Mitbegründer von Stavtar. “This investment enables us to accelerate the development of a scalable, intelligent system that is specially tailored to the financial and operational conditions of managers of alternative assets and other demanding companies.”
This milestone enables Stavtar to be able to do:
- To promote innovations in his entire solution portfolio.
- to enlarge the teams in the areas of engineering, implementation, customer success and sales.
- to further develop its integrated payment platform, including virtual maps and payment functions for providers.
- To deepen KI and mobile radio functions in order to give CEOs, CFOs and finance teams directly into control over the corporate expenditure and insights.
- to expand its presence to vertical markets that adopt the alternative asset management and other similarly complex business areas.
Peter Fallon, partner at Elephantbecomes a member of the board of Stavtar. “Steve and Avtar have developed a groundbreaking platform that solves complex, demanding challenges with which some of the most demanding companies are faced in the financial sector,” said Fallon. “We are very pleased to support the vision of Stavtar and to contribute through continuous market growth to increase their effect.”
With branches in New York, Dallas, London, Mumbai and Bengaluru, Stavtar is growing in a targeted manner and offers financial teams the tools they need to eliminate manual work, reduce operational risks, increase productivity and get forward faster.
Information on Stavtar
Stavtar is the leading provider of SAAS solutions for the management of business expenditure and the assignment of costs, which were specially developed for the financial department of complex companies such as in the area of alternative asset management. Stavtar is headquartered in New York and is represented worldwide in Dallas, London, Mumbai and Bengaluru. The company was founded by experienced experts from the alternative asset management industry.
Our leading platform for expenditure management and cost allocation, StavPaysupports over 100 leading alternative asset managers who together have a fortune of more than USD 2.4 trillion administer
You can find more information at www.stavtar.com.
Information on elephant
Elephant is a risk capital company that focuses on the areas of corporate software, consumer internet and mobile phone markets.
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