Funding round solidifies partnerships, expansion, and development of AI-driven workplace technology
QUEZON CITY, Philippines, January 04, 2024–(BUSINESS WIRE)–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, acting as 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 and 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 a diverse set of clients across a range of industries, helping them to lower costs and significantly improve results.”
In addition to these expansion plans, Sourcefit will continue 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.”
As Sourcefit embarks on this exciting phase of growth, the investment round and strategic partnerships underscores the resilience and potential of the company.
Sourcefit is a leading international business processing outsourcing (BPO) provider with operations centers in the Philippines, South Africa, Dominican Republic and Armenia. Focused on providing custom offshore and nearshore staffing solutions, the company currently supports a wide range of processes for over 200 clients in various industries, including IT, Finance, Healthcare, Retail, E-Commerce, Legal, Real Estate, Telecom, and Advertising. The company has a track record of over 14 years and employs over 1,700 dynamic, hard-working professionals.
About 9 Basil Group
9 Basil Group is a Southeast Asia-focused independent private investment group. Recognized as a preferred local partner and value-enhancing investor, we strategically partnered with several well-established families and institutions across the SEA region. Our distinguished reputation is founded on the ability to deliver immediate, concrete value as a trustworthy and discreet partner. The team has diverse backgrounds, leveraging accumulated expertise across various sectors, extensive experience in capital markets, and a profound understanding of the local market network.
About Nextgen Ventures
Nextgen Ventures is a family office based in Singapore with investment in companies across the Asia-Pacific Region. Our entrepreneurial roots and track record allows us to partner with founders and their management team to scale up businesses at the intersection of brands, service, and technology, while creating and delivering outstanding returns to our stakeholders and partners. We leverage our human and financial capital to help companies build sustainable businesses and achieve their full potential.
About Rocket Equities
Rocket Equities is a Southeast Asia-focused financial advisory firm. We work with market leaders to raise capital via debt & equity markets, enable market expansion through M&A, and create a lucrative exit for founders by leveraging our network of 300+ professional investors composed of Venture Capital, Private Equity, Corporates, and Sovereign Wealth Funds in APAC.
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