PSG Completes Sale of Versatile Credit to Synchrony

BOSTON--(BUSINESS WIRE)--PSG, a leading growth equity firm that specializes in partnering with software and technology-enabled services companies to capitalize on transformational growth, today announced it has completed the sale of Versatile Credit, a consumer-financing software provider connecting merchants, lenders, and consumers through point-of-sale solutions, to Synchrony (NYSE: SYF). 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. Since PSG’s investment in 2023, Versatile Credit scaled its go-to-market strategy to capture blue-chip customers in the elective medical, home improvement, and retail spaces. During the same period, the company expanded and invested in its leadership team as they continued to execute on their business strategy.

“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,” said Ed O'Donnell, Chief Executive Officer of Versatile Credit. “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.”

“It has been a privilege to support Versatile Credit through this period of tremendous growth,” said Chris Nesbitt, Managing Director at PSG. “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.

About PSG

PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 160 companies and facilitated over 530 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel Aviv. To learn more about PSG, visit www.psgequity.com.

About Versatile Credit

Versatile Credit offers a comprehensive consumer financing platform that empowers businesses to develop a credit strategy aligned with how they operate – wherever and however they engage with customers. By integrating financing into existing workflows, Versatile Credit enables businesses to optimize their credit programs, expand customer access to financing, and enhance the consumer experience. Versatile Credit has led the evolution of consumer credit optimization for 20 years, working alongside partners to identify challenges and opportunities, and developing innovative solutions that help businesses build smarter, more strategic credit programs that drive more applications, approvals, and sales.

About Synchrony

Synchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For^® by Fortune magazine and Great Place to Work^®. For more information, visit www.synchrony.com.