The software-as-a-service (SaaS) industry is facing budget constraints and reductions in headcount as a result of the pandemic and the broader slowdown in tech. Companies have tightened up their budgets for SaaS purchases, looking to keep cash on hand while growing more efficiently.That’s why Kush Kella and Ahmed Sharif founded Vartana (which my colleague Mary covered recently). While working together at fleet management company Motive, Kella and Sharif say they dealt with the pains and problems caused by broken SaaS contract management and rigid payment infrastructure. After years watching deals falls through due to a lack of payment flexibility, they left Motive to build Vartana, aiming to equip companies with a managed platform that helps sales reps close deals.“Vartana is a win-win for sellers and buyers of SaaS services and hardware products,” Kella told TechCrunch in an email interview. “It gives vendors new tools to close contracts and generate cash with prepaid deals while offering buyers various payment options and a simplified purchasing experience, ensuring buyers are able to purchase the best technology available to grow their business.”Vartana today announced that it raised $12 million in a Series A round led by Mayfield with participation from Xerox Ventures, Flex Capital and Audacious Ventures., bringing its total raised to $19 million. Vartana also secured a $50 million line of credit from i80 Group, which Kella says will ensure financed deals can be managed through Vartana’s new capital marketplace.“With the launch of the Vartana’s capital marketplace, Vartana no longer holds buyer debt in their books, ensuring a balance sheet-light business,” Kella said

While buy now, pay later startups have largely focused on the consumer, a growing group of them are now focusing on the B2B space. The premise behind that is that after all, businesses need more flexible payment options, too. For example, in December, Affirm spinout Resolve, which specializes in “buy now, pay later” capabilities for […]