Low-code fintech platform supplier Veritran has secured a strategic development funding from Trivest Companions, a non-public fairness fund based mostly in Miami, Florida. The particular quantity of the funding was not disclosed, however the firm did report that funding provides the Buenos Aires, Argentina-based agency a valuation of $225 million.
“At this time marks a serious milestone for Veritran’s group, as we embark upon a brand new chapter of turning into the following fintech unicorn,” Veritran CEO and co-founder Marcelo Gonzalez mentioned, “whereas persevering with to democratize entry to the digital financial system.” Gonzalez highlighted Trivest Companions’ profitable observe document of working with “founder-owned companies” and mentioned the collaboration would assist Veritran increase “into new geographies and attain new prospects.”
Based in 2005 and sustaining places of work within the U.S., Spain, Mexico, Colombia, Uruguay, Chile, Peru, and Guatemala, Veritran provides a low-code platform that helps corporations combine new, enabling applied sciences into their legacy techniques. Firms seeking to improve buyer engagement through digital channels starting from cell banking and digital wallets hunt down Veritran’s know-how to future-proof their retail and company banking operations, in addition to digital funds and onboarding processes.
With 50 financial institution purchasers and 25 million customers, Veritran processes 25 billion transactions a yr on its platform. In August, the corporate introduced that it had partnered with Visa to advertise push funds, tokenization, and Click on to Pay tasks in Latin America and the Caribbean. The earlier month, Veritran teamed up with behavioral biometric-based on-line fraud detection platform Revelock to assist banks cut back fraud losses and name heart prices. The partnership with Revelock – a Feedzai firm – adopted Veritran’s collaboration with one other biometric know-how firm, FaceTec, which introduced its facial recognition know-how to the Buenos Aires-based agency’s low code platform.
Veritran’s funding announcement comes lower than a month earlier than it makes its return to the Finovate stage at FinovateFall in New York. The corporate will be a part of what often is the largest contingent of Latin America-based fintechs ever assembled at a Finovate occasion (see under).
FinovateFall 2021 takes place on the Marriott Marquis Occasions Sq. in New York Metropolis, September 13 by way of 15. For extra info, together with the best way to attend our autumn fintech convention dwell or on-demand, go to our FinovateFall hub as we speak.
Right here is our have a look at fintech innovation all over the world.
Central and Jap Europe
Center East and Northern Africa
Central and Southern Asia
Latin America and the Caribbean
Photograph by Florencia Potter from Pexels