Vervent
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Vervent - overview
Established
2019
Location
San Diego, CA, US
Primary Industry
Financial Services
About
Vervent, based in the US, provides a diverse suite of Capital Markets Services aimed at enhancing investment security and supporting financial products for various clients. Founded in 2019 and headquartered in San Diego, US, Vervent specializes in Capital Markets Services. The company was formed through the merger of several entities to enhance its service offerings. David Johnson serves as both the founder and CEO.
Vervent has raised a total of USD 180. 00 mn, with the latest funding round, a Growth round, completed in January 2024, led by Castlelake. Vervent specializes in delivering a comprehensive range of solutions focusing on Capital Markets Services. Their core offerings include Primary Servicing with integrated support options and advanced Artificial Intelligence capabilities.
They provide a full suite of credit card solutions designed to streamline operations for financial institutions, including application processing and fully managed programs. Their client base consists of various financial entities across the US, Canada, and select regions in Europe, aiming to improve the efficiency and security of financial transactions. Vervent generates revenue through structured service agreements and partnerships. Clients pay for support services including loan and lease servicing, and credit card management solutions.
The firm's proprietary technologies, such as the Vervent eVault, are key to ensuring security and authenticity throughout their service offerings. Pricing plans are tailored to meet clients' needs, with fees based on the complexity of services rendered, fostering long-term client relationships and repeat engagements. In January 2024, Castlelake agreed to invest approximately USD 180. 00 mn in Vervent to enhance and improve its financial and credit card programs.
The funding will support upcoming product developments aimed at expanding their service offerings. Vervent plans to target new geographic markets beyond its existing presence in the US and Canada, including certain regions in Europe, with specific expansion strategies expected to unfold by 2025.
Primary Industry
Financial Services
Sub Industries
Credit Collections & Services, Consumer Finance
Website
www.vervent.com
Verticals
Artificial Intelligence, FinTech
Total Amount Raised
Subscriber access only
Vervent - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private Debt | Completed | Vervent | - | ||||||||
| Add-on | Completed | Smiles On Demand Outsourcing, Inc. | - | ||||||||
| Add-on | Completed | First Equity Card Corporation | - | ||||||||
| Add-on | Completed | TCI, Inc. | - | ||||||||
| Merger | Completed | First Associates Loan Servicing, LLC, Portfolio Financial Servicing Company, Inc. | - |
Displaying 1 - 5 of 5
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.