Stavtar Solution

About Stavtar Solution

Stavtar Solution provides cloud-based business spend management software tailored for the complex needs of the alternative asset management industry. Founded in 2017 by former CFO Steven Petersen and CTO Avtar Batth, the company was born from their direct experience with the operational inefficiencies of manual, spreadsheet-based financial workflows. Petersen, with a background in accounting at Arthur Andersen and a proprietary trading desk at JP Morgan, met Batth while at TPG-Axon, where they collaborated on automating internal processes. Identifying a widespread industry need, they reunited to develop a solution, initially self-funding the project.

Headquartered in New York and operating globally with offices in Dallas, London, Mumbai, and Bengaluru, Stavtar serves over 100 alternative asset managers, including hedge funds, private equity firms, and family offices, who collectively manage over $2.4 trillion in assets. The company's business model is centered on its Software-as-a-Service (SaaS) platform, which generates revenue through subscriptions. Following a period of significant expansion, Stavtar secured a $55 million Series A funding round in August 2025, led by Elephant, to accelerate product development and scale operations.

The company's flagship product, StavPay, is an enterprise-level platform designed for the Office of the CFO. It automates end-to-end financial workflows by managing vendors, contracts, invoices, and expense allocations. Key features include automated invoice data capture using OCR and machine learning, customizable approval workflows, multi-layered expense allocation, budget-to-actual reporting, and integration with general ledgers and banking platforms. The platform also offers specialized modules for accrual management, legal spend, inter-entity chargebacks, and 1099 e-filing. By centralizing and automating these functions, Stavtar aims to reduce operational risk, eliminate manual work, and provide clients with real-time financial insights.