Victoria Burak

Los Angeles, CA (USA)
Role(s):
Founder/Owner/Principal

Triton Ventures LLC

Find More Startups Startup
Location: Los Angeles
Industry: Banking
Year Founded: 2010
Number Employees: 1-10 people
Description: Triton Ventures, LLC is in the business of acquiring charged off credit card debt at a steep discount and collecting those assets by placing the portfolios with highly qualified third party collection agencies. Right now, and for the next several years, there is a huge oversupply of charged off debt available for purchase (because of the recession and high rates of charge offs at the very large banks). This excess supply allows a new and small market entrant, like Triton, to purchase these assets at a discounted price. Triton expects to achieve above average collection results by the selection of collection agencies who utilize a unique strategy for working with consumers. The Applied Psychology strategy is unlike the typical “confrontation” strategy used by most collection agencies. To facilitate the start up and operations, Triton has engaged billionaire Bill Bartmann and his Success Support Systems (SSS) for training, consulting and support services. SSS consultants have deep backgrounds in banking and all facets of collection activity and will be especially valuable to Triton for expert advice and guidance, identification, pricing and acquisition of portfolios, and selection and management of third party collection agencies. Additionally, Triton has the opportunity to enter into a partnership with Bill Bartmann in order to have the benefit of his experience as an entrepreneur and a highly successful debt buyer. Bartmann was the founder and CEO of Commercial Financial Services (CFS), a highly successful debt buyer. Bartmann’s company, Commercial Financial Services (CFS), was the nation’s largest and most successful debt buyer. CFS was acknowledged by the Nilson Report, the most authoritative source for information on credit cards, as the ‘largest, best-trained and most profitable collection agency in the world”. CFS, with 3900 employees, acquired and collected 4.5 million charged off credit card accounts representing more than $15 billion of face value. Bartmann is an author and has written two national and international best sellers on the topics of business, finance and investing. He is also a successful speaker on motivational and business topics and has appeared on programs with New York City Mayor and Presidential Candidate Rudy Giuliani, Secretary of State and military leader General Colin Powell, and Presidential Candidate and Publisher Steve Forbes. He has presented his program to more than 400,000 people and is a frequent media spokesman on CNN, ABC, NBC, CBS, Fox, CNBC, Bloomberg, Fortune, Forbes and the Wall Street Journal. Bartmann has created seven successful businesses in seven different industries; including CFS, which he launched from his kitchen table with a $13,000 loan. NASDAQ, USA Today, Merrill Lynch and the Kauffman Foundation have named him National Entrepreneur of the Year. His companies have been named by Inc. Magazine as one of the 500 Fastest Growing Companies in America - four years in a row. He has been awarded a permanent place in the Smithsonian Institute’s Museum of American History and awarded the American Academy of Achievement's Golden Plate Award as one of the Outstanding Achievers of the 21st Century. Triton intends that, after payment of collection costs, all cash flow from collections will be used to retire the debt from the initial financing. Consequently, the loan will be repaid very quickly. The goal of this financing strategy is to demonstrate to the lender that Triton’s business model produces both large profit margins and a cash flow that is front-loaded and thus illustrate that the lender’s risk is minimized. Only after the loan is repaid will Triton seek additional financing based on the established track record.