Fintech software firm Veritran hits $225m valuation with Trivest investment
Low-code platform provider Veritran has received an undisclosed investment from private equity firm Trivest, taking its valuation up to $225 million.
Veritran CEO Marcelo González
Fintech Futures understands that Trivest is backing Veritran out of its Growth Investment Fund, which so far has roughly $450 million in committed capital, and that Trivest typically makes investments of $20 million to $60 million from its growth equity funds.
The Miami-based private equity firm has over $2.4 billion in assets under management. Its Growth Investment Fund is a non-control and growth equity strategy led by partner Jamie Elias.
Headquartered in Buenos Aires, Veritran says its enterprise low-code platform makes it easier for financial and retail institutions to implement digital channels such as mobile banking and digital wallets.
Veritran CEO Marcelo González says: “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.”
The company signed a partnership with cloud core banking technology vendor Mambu last year to create “a streamlined solution” for banks in the US and Latin America.
