Stavtar Solutions Receives $55 Million Funding to Boost Business Growth

Stavtar Solutions Secures $55 Million from Elephant to Propel Business Growth

Stavtar Solutions, a prominent provider of SaaS solutions specializing in business spend management and expense allocation for complex organizations, has announced securing $55 million in Series A funding from Elephant on August 6, 2025. This investment will facilitate the next phase of expansion for Stavtar, which has revolutionized how complex firms handle their business expenses, supplier management, contracts, budgets, payments, and more.

Founded by Steven Petersen and Avtar Batth, who previously held top positions as CFO and CTO, Stavtar was created to address a critical gap they encountered: the heavy reliance on manual processes and spreadsheets in managing business expenditures within the alternative asset management sector. After experiencing operational bottlenecks and fragmented systems for years, they aimed to develop a modern, customizable, and data-driven platform tailored specifically for financial and operational teams in industries like hedge funds, private equity, family offices, and other complex organizations.

Stavtar has witnessed tremendous growth, expanding by over 1300% in the past three years. It is now the preferred choice for more than 100 alternative asset managers who collectively oversee assets worth $2.4 trillion. Their flagship product, StavPay, supports automated workflows for vendor management, contracts, invoicing, expense reporting, third-party payments, budget management, tax filings, custom reporting, and other critical business needs. This platform transforms clients' processes into efficient approval workflows, offering real-time insights that significantly enhance decision-making.

As Steven Petersen, co-founder of Stavtar, aptly puts it, “We developed Stavtar to enhance something that we could not overlook – outdated, manual, and siloed financial processes that hinder high-performing teams. By partnering with Elephant, we can concentrate on delivering innovative solutions to businesses.”

Avtar Batth, also a co-founder, added, “This investment allows us to accelerate the development of a scalable, intelligent system specifically designed for the financial and operational realities of alternative asset managers and other demanding businesses.”

This funding marks a pivotal opportunity for Stavtar to push innovations across its entire solution portfolio and significantly expand its engineering, implementation, customer success, and sales teams. Furthermore, the investment will drive the enhancement of its integrated payment platform to include additional features like virtual cards and expanded payment functionalities for suppliers. They are also committed to deepening AI and mobile features, empowering CEOs, CFOs, and finance teams with more control and insights into corporate spending.

Stavtar aims to broaden its reach into vertical markets adjacent to alternative asset management and other similarly complex business environments. Peter Fallon, a partner at Elephant, will join the board of Stavtar. “Steve and Avtar have developed a groundbreaking platform that addresses the complex challenges faced by some of the most demanding companies in the financial sector,” he stated. “We are excited to support Stavtar’s vision and contribute to their impact through continued market growth.”

With offices located in New York, Dallas, London, Mumbai, and Bengaluru, Stavtar is strategically expanding while providing financial teams with the tools they need to eliminate manual tasks, reduce operational risks, enhance productivity, and accelerate progress.

About Stavtar

Stavtar stands as a leading provider of SaaS solutions for the management of business expenses and cost allocation, specifically engineered for the finance departments of complex organizations, particularly within alternative asset management. Based in New York, the company boasts a global presence, catering to alternative asset managers with clients managing an aggregate of over $2.4 trillion in assets.

For more details, visit www.stavtar.com