Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today a strategic growth investment from Tritium Partners, a growth-focused private equity firm with extensive experience investing in fintech and financial services companies, and Terminus Capital, an enterprise software private equity firm. The investment provides Katabat with significant resources to expand and enhance its industry-leading suite of debt collection products. The transaction also represents an exit for Katabat's venture backers, including Camden Partners, Osage Venture Partners and Activate Venture Partners. Terms of the transaction were not disclosed.
Katabat is a recognized global leader in cloud-based debt collection managed service software products. Founded by consumer lending experts, the Katabat platform has been built from the ground up to provide unparalleled ease and flexibility. The software synchronizes customer offers, implements customer workflows, and builds integrated content and treatments across all customer channels. Powered by machine learning, Katabat's products are easily deployed to enable speed to ROI for its clients, and its products ensure full compliance with policy and regulatory guidance.
"We were made for this moment. Having begun operations during the 2008 financial crisis, we are battle-tested and ready to support our clients, both today, as they grapple with the economic effects of Covid-19, and in the future," said Ray Peloso, President and CEO of Katabat. "We recognize the criticality of product functionality, flexibility, speed and auditability as our clients require unprecedented speed to react to today's rapidly shifting credit environment." Mr. Peloso added, "We are thrilled to have Tritium and Terminus as our partners as we enter the company's next phase of growth."
Chris Steiner, Principal at Tritium Partners, commented, "Katabat has created a world-class platform that delivers a clear and compelling return on investment to its clients, making it the debt collections software solution of choice for credit and collection professionals. We see significant potential for Katabat as a leader in a market that is increasingly seeking out intelligent, compliance-minded, and data-driven work-flow management capabilities that enable a true omni-channel experience for consumer customers throughout the entire credit lifecycle. No other platform can duplicate the unique capability that Katabat offers to its clients."
Alex Western, Managing Director at Terminus, added, "We are focused on ensuring a quality customer experience and creating a transparent, positive presence in the sector. We are investing to expand Katabat's go-to-market team and further enhance its product differentiation to meet the demand from clients who seek technology to improve operational success and better serve consumers." Mr. Western also commented, "We are thrilled to be partnering with Ray Peloso, CEO, and Ye Zhang, Co-Founder and Head of Product Strategy, and we are confident that the company is well-positioned to dominate the market for debt collection software."