Katabat, a global software developer headquartered in Wilmington, has secured investments from two private equity firms, setting the stage for opportunities to expand.
This investment Tritium Partners, a private equity firm that invests in fintech, and software enterprise firm Terminus Capital, announced this week it would invest an undisclosed amount so Katabat could expand and enhance products on the market.
Launched during the 2008 financial crisis, Katabat develops cloud-based debt collection software products for global banks and debt collection agencies. Its software software delivers data-driven debt collections powered by propriety machine learning.
“We are thrilled to have Tritium and Terminus as our partners as we enter the company’s next phase of growth,” said Ray Peloso, President and CEO of Katabat. “We were made for this moment…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.”
The investment also signals the exit of Katabat’s venture backers including Camden Partners, Osage Venture Partners and Activate Venture Partners. Terms of the transaction were not disclosed.
