Dallas, TX and Austin, TX — GIACT announced a majority investment by Tritium Partners to accelerate its growth. The investment will allow GIACT to advance its leading fraud prevention data services and to broaden its customer and partner relationships. Additional terms were not disclosed.
Founded in 2004, GIACT has grown quickly in its decade of operations, benefiting from increasing transaction volume in ACH/electronic payments and the need for verification, authentication, and fund confirmation solutions. GIACT helps businesses of all types safely accept payments including financial and lending institutions, insurance companies, retail and e-commerce merchants, card issuers and payment processors, MSBs, utilities and housing, government agencies, and peer-to-peer payment providers. GIACT currently services more than 1,000 customers and has helped secure and process over 1 billion transactions.
Tritium Partners working closely with GIACT team in Dallas
Tritium Partners will be working closely with Melissa Brown, GIACT co-founder & CEO, and Merlin Bise, co-Founder and CTO, and their team in Dallas to execute their growth plans.
“This transaction positions GIACT for an exciting phase of growth as we execute on our plans to better serve our customers and to further expand our services,” said Melissa Brown. “We chose to partner with the Tritium team because of their industry knowledge and their track record of building market leaders.” Merlin Bise commented further, “We will be putting in place a lot of new products and service packages for our customers, and the Tritium team is already helping us put the right people and processes in place in order to serve the rapid growth that we are experiencing in our business.”
“Risk management for electronic payments has become a ‘have to have’ for businesses as they accept more ACH and recurring payments. With respect to comprehensiveness of fraud tools and data coverage, and most importantly solution accuracy, GIACT is the clear leader in this fast growing market.”
Phil Siegel
Managing Partner, Tritium
Siddharth “Bobby” Mehta, former President and CEO of TransUnion, Inc., will act as senior advisor to GIACT Systems and Tritium Partners. Prior to TransUnion, Bobby served as Chairman and CEO of HSBC Finance Corporation and HSBC North America Holdings, Inc. He currently serves on several public and private boards.
About Tritium Partners
Tritium Partners (www.tritiumpartners.com) is a private equity firm focused on growth buyouts in the lower middle market. Since 1999, the team at Tritium has deployed over $600 million of equity capital while partnering with talented founders and executives to build great companies. The firm’s emphasis is on long-term value creation through internal growth initiatives and acquisitions. They hav with a particular focus on three core sectors: (i) Internet, information and media; (ii) supply chain and logistics; and (iii) business and financial services.
