Veritran reaches $225 million valuation with strategic investment from Trivest Partners
Veritran, Inc., a leading global FinTech Low-Code Platform provider, announced a strategic growth investment from Miami-based Trivest Partners LP (“Trivest”), one of the leading U.S. private equity firms with over $2.4 billion of assets under management. With this investment the Company reaches a $225 million valuation, starting its path to become the next FinTech unicorn.
Veritran is headquartered in Buenos Aires with offices in New York, Miami, Barcelona, Mexico City, São Paulo, Santiago de Chile, Bogota, Montevideo, Lima, Guatemala, Pereira and Monterrey. Co-founded by CEO Marcelo González in 2005, the Company serves leading financial and retail institutions worldwide. Its Enterprise Low-Code Platform reaches millions of users who safely run billions of transactions annually. In an increasingly virtual world, Veritran’s digital transformation offerings facilitate the development of future-proofed immersive digital channels such as mobile banking, digital wallet, among others, which enable their clients to meet the complex needs of their end users, supporting digital access for tens of millions of users globally.
The investment comes from Trivest’s Growth Investment Fund II (“TGIF”), 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.”