Stavtar Solutions, a New York-based SaaS platform for business spend management and expense allocation, has raised $55 million in a Series A funding round.
Investors
The round was led by Elephant, a Boston-based venture capital firm focused on the enterprise software, consumer internet, and fintech sectors. The firm is known for backing high-growth companies with strong founder-market fit and ambitious go-to-market strategies.
Stavtar Solutions Use of Funds
The company will use the funds to advance its flagship StavPay platform, including integrated virtual card and vendor payments, deepen AI and mobile capabilities, expand into adjacent complex verticals, grow its engineering, customer success, sales, and implementation teams, and drive product innovation across its suite
About Stavtar Solutions
Founded by Steven Petersen and Avtar Batth, Stavtar Solutions provides business spend management and expense allocation SaaS solutions built for the Office of the CFO in complex businesses like alternative asset management.. Its platform automates vendor management, expense allocation, contract workflows, payments, tax filing, and budgeting. The company’s flagship platform, StavPay, empowers over 100 leading alternative asset managers. Stavtar is headquartered in New York, with global offices in Dallas, London, Mumbai, and Bengaluru.
Funding Details
Company: Stavtar Solutions Inc.
Raised: $55.0M
Round: Series A
Funding Date: August 2025
Lead Investor: Elephant
Additional Investors:
Company Website: https://stavtar.com/
Software Category: Business Spend Management / Fintech SaaS
Source: https://www.prnewswire.com/news-releases/stavtar-solutions-secures-55-million-from-elephant-to-accelerate-growth-and-scale-operations-302522402.html