Atlanta financial technology startup Artis Technologies raised $7 million to more than double its team and expand into new industries and states.
The Artis platform integrates into merchant websites to allow consumers to use loans to pay for large purchases, such as for home improvement, medical or dental work.
Artis works with community banks and credit unions so consumers can get a loan during the purchasing process, similar to inputting credit card information on an e-commerce website.
Inside the deal: Saluda Grade Ventures led the round with participation from CMFG Ventures, Fintech Venture Fund and Independent Community Bankers of America. The Series A round brings Artis’ total investments to $10 million, CEO Barclay Keith said.
About the company: Artis Technologies launched in March 2020, led by a founding team who met as employees of GreenSky Inc., an Atlanta fintech giant that went public in 2018. The pandemic prompted the startup to “turn internal,” Keith said, and focus on product development for six months until federal stimulus prompted renewed bank and credit union activity.
Artis began in Buckhead’s Atlanta Tech Village incubator and completed Georgia Tech’s ATDC incubator. Keith says it outgrew those spaces and now has a downtown office. Artis has about 20 full-time employees and 10 contractors and works with about 100 merchants in 36 states.
Why it matters: The Series A raise demonstrates the startup’s trajectory to move from early-stage development to scaling the platform. The Artis origin story is an example of how employees from successful, local tech companies fuel Atlanta’s innovation ecosystem.
The Artis platform is another financial tool that aims to make e-commerce transactions more efficient, capitalizing on a trend accelerated by the pandemic. Industries such as healthcare and retail are shifting toward a more consumer-centric model, which prioritizes ease for patients or buyers.
What’s next: Artis plans to have about 50 employees by the end of the year and operate in all 50 states, Keith said. The startup, which integrates with home improvement, medical and dental merchants, will also expand into other verticals. Upcoming product development includes secure lending, an enterprise platform and analytics suite.
