Mass-based Tech Firm Acquires Versatile Credit

Time: Jul 18th  2015   Copy editor: Tyrefull

The Massachusetts based technology investment firm Mass Capital Ventures has acquired Versatile Credit, an in-store and self-service credit solutions provider.

Terms of the acquisition have not been released, but MidPenn Bank will remain as Versatile’s senior lender.

Principal of Mass Capital Ventures Mike May stated Versatile will still operate as a private company and stay in its Mechanicsburg, Pa., headquarters.

"Versatile Credit has tremendous growth potential, particularly if focused exclusively on providing the best possible consumer lending experience,” May said. “The company has been very successful in serving the retail furnishings market. That same experience and best practices knowledge will also benefit other underserved markets such as automotive and jewelry.”

Vicki Turjan, former chief financial officer at Versatile Systems, was named president of Versatile Credit and added that the only change with existing customers will be the new logo and new applications and services.

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