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.

Source: https://www.fintechfutures.com/2021/09/fintech-software-firm-veritran-hits-225m-valuation-with-trivest-investment/