Abrigo, a provider of compliance, risk and lending services, has received a strategic investment from funds managed by Carlyle.
The capital injection will help the RegTech company plans to bolster its sales growth, seek mergers and acquisitions, and enhance customer relationships.
Abrigo has witnessed 30% year-over-year revenue growth and currently serves more than 2,300 customers.
Headquartered in Texas, Abrigo offers software solutions to enable its customers to comply with changing regulatory requirements. Its features can automate the processes for fraud, money laundering, credit risk and more.
Its software also helps with processes outside of compliance, including processing loans faster and using data to generate insights for customers.
Accel-KKR, which is the majority shareholder in Abrigo, will retain a â€œsignificantâ€ stake in the business.
Abrigo CEO Wayne Roberts said, “It has also been a period of unprecedented growth and success for Abrigo “Our customers play a vital role in our economy and that was never more apparent than the past 18 months.Â Abrigo is proud to serve financial institutions and help them make big things happen.
â€œWe are excited to tap into Carlyle’s global scale, industry expertise and diverse perspectives to continue our journey to become the technology partner of choice for financial institutions.Â The next chapter for Abrigo will be even bigger, faster and bolder, and we are thrilled to partner with Carlyle and Accel-KKR to continue building the Company that everyone wants to join, and no one wants to leave.”
Goldman Sachs served as the lead financial investor and Raymond James served as financial advisor to Abrigo.
Copyright Â© 2021 FinTech Global