Trivest Partners Invests in Argentine Fintech Veritran
30 August 2021
Trivest Partners, through its Growth Investment Fund II, invested an undisclosed amount in Veritran, an Argentina-based, low-code platform, at a reported USD225m valuation.
(Veritran) CORAL GABLES, Fla., Aug. 30, 2021 /PRNewswire/ — Veritran, Inc. (“Veritran” or the “Company”), a leading global FinTech Low-Code Platform provider, announced today 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.”
Trivest Partners LP, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the U.S. and Canada in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 300 investments, totaling approximately $7 billion in value. Trivest is one of only 18 firms recognized by Inc. Magazine as one of the top-50 founder-friendly private equity firms in both 2019 and 2020. For more information, visit www.trivest.com
At Veritran, we believe in improving our clients’ business by making their customers’ lives better.
Through our enterprise Low-Code platform, we speed up and simplify the development of future-proofed immersive digital channels that create a top-notch user experience.
We are innovation drivers serving companies worldwide, reaching millions of users, and running billions of secure transactions annually.
For more information, visit www.veritran.com
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