Trivest Partners makes a strategic investment in Veritran, valuing it at 225 million Dollars.
FREMONT, CA: Veritran, world's leading fintech low-code platform provider, has secured a strategic growth investment from Miami-based Trivest Partners LP ("Trivest"), one of the top U.S. private equity firms with more than 2.4 billion dollars in assets under management. With this investment, its valuation rises to 225 million dollars, putting it on track to become the next FinTech unicorn.
Veritran is based in Buenos Aires and has offices in New York, Miami, Barcelona, Mexico City, So Paulo, Santiago de Chile, Bogota, Montevideo, Lima, Guatemala, Pereira, and Monterrey. The Company, co-founded in 2005 by CEO Marcelo González, serves to lead financial and retail institutions worldwide. Its Enterprise Low-Code Platform is helpful to millions of people who safely process billions of transactions each year. In an increasingly virtual world, Veritran's digital transformation offering enables the development of future-proofed immersive digital channels like mobile banking and digital wallets, among others, allowing their clients to meet the complex needs of their end-users and supporting digital access for tens of millions of users worldwide.
Trivest's Growth Investment Fund II invested a non-control and growth equity strategy led by partner Jamie Elias."Our partnership with Veritran is indicative of the global reach of Trivest's founder-focused and friendly approach," Elias said. "From my first interaction with Marcelo and the Veritran team, it was clear that they had built a unique platform to support ever increasing mobile and web-based enterprise needs," said Mario R. Masrieh, Principal at Trivest Partners. "TGIF is excited to be partners as the Company continues to further enhance their software offerings and consolidate their expansion into new geographies."
Veritran CEO Marcelo González said, "Today marks a major milestone for Veritran's team, as we embark upon a new chapter of becoming the next FinTech unicorn, while continuing to democratize access to the digital economy. We are confident that Trivest's resources and deep experience supporting founder-owned businesses will allow us to consolidate our growth into new geographies and reach new customers while hiring and retaining the best talent."