Stavtar Solutions has secured a $55m Series A investment from Elephant, a venture capital firm targeting enterprise software and mobile markets.
The minority investment aims to facilitate further growth and innovation in Stavtar’s business spend management and expense allocation solutions. The company plans to enhance its integrated payment capabilities within its StavPay platform, expand its workforce, and meet increasing demand.
Stavtar Solutions specialises in providing software solutions for complex businesses such as alternative asset managers. Founded by industry veterans Steven Petersen and Avtar Batth, the company developed its platform to address the challenges of manual processes in managing business spend and allocations.
Over 100 alternative asset managers, handling more than $2.4 trillion in assets under management (AUM), are claimed to use StavPay.
The platform supports automated workflows for managing vendors, contracts, invoices, and more. It aims to streamline processes for hedge funds, private equity firms, and other complex businesses.
The investment from Elephant will also support the expansion of Stavtar’s engineering, customer success, and sales teams. Additionally, the company plans to bolster its artificial intelligence (AI) and mobile capabilities to provide enhanced control over business spending for finance teams.
In July 2025, Stavtar launched StavMarket, a vendor discovery and benchmarking marketplace integrated into StavPay. This feature allows hedge funds and similar entities to discover and engage with vendors through a data-driven ecosystem.
Vendors can create profiles with product information and connect directly with clients via the platform.
StavMarket provides tools for transparent return on investment (ROI) measurement and insights into buyer behaviour. Vendors also have opportunities to participate in Stavtar client events through various promotional activities.
