March 4, 2024
Louise-Brett-Terrapay-independent-Director

Sourcefit Secures Funding from Three Prominent Investors

Sourcefit secures investment from prominent players 9 Basil, NextGen Ventures, and Rocket Equities.
Sourcefit secures investment from prominent players 9 Basil, NextGen Ventures, and Rocket Equities.

Sourcefit, a leading international business processing outsourcing (BPO) provider with operations centers in the Philippines, South Africa, Dominican Republic, and Armenia, has successfully closed a significant strategic investment, attracting investments from prominent players 9 Basil, NextGen Ventures, and Rocket Equities. This financial milestone marks a pivotal moment in Sourcefit’s growth trajectory.

The strategic investment round demonstrates a decisive vote of confidence in Sourcefit’s business model and potential. Rocket Equities, the financial advisor and investor, helped structure the deal for all parties.

Andy Schachtel, CEO of Sourcefit, expressed gratitude for the support, stating, “Sourcefit is entering an exciting phase of our growth. We plan to use the recent funding round to expand our award-winning BPO and staffing services globally. With a dynamic team of over 1,700 employees, we will continue to deliver comprehensive solutions to diverse clients across various industries, helping them lower costs and significantly improve results.”

In addition to these expansion plans, Sourcefit will continue the development of its AI-infused team engagement and digitalization platform. This platform forms the technological backbone of Sourcefit’s operations, facilitating seamless collaboration and productivity among remote teams and providing a framework for the complete digital transformation of both the company’s operations and those of clients. This equity financing round underscores the company’s ambition to redefine the boundaries of BPO solutions and set new standards in the industry.

Kris Panijpan, Managing Partner of 9 Basil Group, an independent private investment group with a Southeast Asian mandate, added, “We aim to leverage our network, expertise in various sectors, and extensive experience in capital markets to identify exceptional growth opportunities for Sourcefit.”

Jimmy Quach, CEO of NextGen Ventures, noted: “Sourcefit is a customer-centric BPO that delivers exceptional value to clients through cutting-edge technology enablement; including its AI and digitalization platform and its awarding-winning best-place-to-work culture for high employee engagement and productivity. We look forward to working with Andy to better serve Sourcefit’s customers by assisting with Sourcefit’s expansion goals and advising on the technology roadmap.”

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