Argentina’s Veritran Earns $225 Million Valuation, Joins Finovate’s Largest Latin American Cohort To Date



Low-code fintech platform supplier Veritran has secured a strategic progress funding from Trivest Companions, a personal fairness fund primarily based in Miami, Florida. The particular quantity of the funding was not disclosed, however the firm did report that funding offers the Buenos Aires, Argentina-based agency a valuation of $225 million.

“Right this moment marks a serious milestone for Veritran’s workforce, as we embark upon a brand new chapter of changing into the subsequent 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 monitor document of working with “founder-owned companies” and mentioned the collaboration would assist Veritran develop “into new geographies and attain new prospects.”

Based in 2005 and sustaining workplaces within the U.S., Spain, Mexico, Colombia, Uruguay, Chile, Peru, and Guatemala, Veritran gives a low-code platform that helps firms combine new, enabling applied sciences into their legacy programs. Firms trying to improve buyer engagement by way of digital channels starting from cellular banking and digital wallets hunt down Veritran’s expertise to future-proof their retail and company banking operations, in addition to digital funds and onboarding processes.

With 50 financial institution shoppers 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 scale back fraud losses and name heart prices. The partnership with Revelock – a Feedzai firm – adopted Veritran’s collaboration with one other biometric expertise firm, FaceTec, which introduced its facial recognition expertise 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 part of what stands out as 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 via 15. For extra data, together with the way to attend our autumn fintech convention dwell or on-demand, go to our FinovateFall hub at this time.

Right here is our have a look at fintech innovation all over the world.


Sub-Saharan Africa

Central and Jap Europe

Center East and Northern Africa

Central and Southern Asia

Latin America and the Caribbean

Picture by Florencia Potter from Pexels

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