PSG, a growth equity firm specializing in software and technology-enabled services companies, has completed the sale of Versatile Credit to Synchrony (NYSE: SYF). Versatile Credit is a consumer-financing software provider that connects merchants, lenders, and consumers through point-of-sale solutions. The terms of the transaction were not disclosed.
Versatile Credit enables retailers and healthcare providers to offer consumer financing solutions to their customers across online, in-store, and mobile point-of-sale channels. The company’s platform integrates financing into existing workflows, aiming to optimize credit programs, expand customer access to financing, and enhance the consumer experience.
Since PSG’s investment in 2023, Versatile Credit scaled its go-to-market strategy, securing blue-chip customers in the elective medical, home improvement, and retail sectors. During this period, the company also expanded and invested in its leadership team as it continued to execute its business strategy.
Ed O’Donnell, Chief Executive Officer of Versatile Credit, commented on the collaboration: “PSG has been a true thought partner since day one. The team’s collaborative approach and combination of operational support and domain expertise helped us take Versatile Credit to the next level. We’re thrilled to reach this milestone and continue supporting our partners with solutions to help enhance sales efforts and improve the customer experience as part of Synchrony.”
Chris Nesbitt, Managing Director at PSG, added: “It has been a privilege to support Versatile Credit through this period of tremendous growth. We look forward to seeing the company continue to innovate consumer financing alongside Synchrony.”
Weil, Gotshal & Manges LLP acted as legal counsel, and Shea & Company acted as financial advisor to PSG for the transaction.
PSG, founded in 2014, partners with software and technology-enabled services companies to support their growth. The firm has backed more than 160 companies and facilitated over 530 add-on acquisitions, operating from offices in Boston, Kansas City, London, Paris, Madrid, and Tel Aviv.
Synchrony (NYSE: SYF) is a consumer financing company that provides access to credit and banking products. With nearly 100 years of operation, it supports businesses and health providers across various sectors. Synchrony has been recognized as a top employer by Fortune magazine and Great Place to Work.
