Gaviti, a software-as-a-service (SaaS) platform that helps manage and collect invoices, raised $9 million in series A funding. This will help fund growth, improve existing tools that help companies stay on top of unpaid invoices and build out additional financial management services.
Companies use enterprise resource planning (ERP) software to track all aspects of company finances. Gaviti’s platform ingests data from the most popular ERP platform to help automate the various tasks involved with identifying late payments and automating the collection process. Gaviti helped enterprises collect $6.2 billion in receivables in 2021.
Gaviti has raised a total of $11.5 million overall. Flashpoint led the recent series A funding with participation by LETA Capital, Moneta VC, North First Ventures, TAU Ventures. The new funds will go towards aggressive growth and expansion in North America and Europe and introducing additional FinTech solutions in Q2 and Q3 of this year. These include funding, factoring and receivables insurance products, to help ensure a more reliable cash flow for enterprise customers.