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Fintech firm valued at £9m five months after launch

Hito, a collections technology company, has been valued at more than £9m following its buy-out by Outsourcing Inc.

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The outsourcing group already had shares in Hito but took full ownership of the company on January 31.

 

Outsourcing Inc acquired the remaining shares from Jamie Waller, the founder and now former chief executive of Hito.

 

Waller is leaving Hito and told Credit Strategy he will move “onto the next thing” following a successfully launching the business and securing a customer pipeline. A new chief executive is yet to be announced.

 

Hito was founded in 2016 and officially launched last October. It offers fintech solutions designed specifically for operational and frontline collections staff.

 

On launching in October last year, Waller said: “Hito will never deliver a solution without some, or probably lots of dialogue, with the people that are going to use the technology - not just the operations director.

 

“The dialogue has to happen with the people that go to work in the call centre for 10-12 hours every day, because that’s who will be using it.”

 

Outsourcing Inc, a global process outsourcing business, also owns Liberata UK, JBW Group, Allen Lane Consulting and NTrinsic.

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