Verafin

Canada
St. John's, Newfoundland and Labrador, Canada, A1A 0L9

Company profile

Verafin company profile

Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management, and Secure 314(b) Information Sharing. More than 2600 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its big data intelligence, visual storytelling, and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights, and streamlines the daunting BSA/AML compliance processes that financial institutions face today. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, Florida Bankers Association, Illinois Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services, with industry endorsements in 47 U.S. states.

Business identity

Contact email
[email protected]
Phone number
877.368.9986
Operating status
Active
Company type
For Profit
Employee range
1,001-5,000 employees
Founded
2003-01-01, Year

Headquarters

Postal code
A1A 0L9
Country code
CA
Continent
North America

Capital profile

Funding and company signals

Funding stage
M And A
Funding rounds
5
Total equity funding
$454M
Last funding
Private Equity / $388.5M / 2019-09-25
Last equity funding
Private Equity / $388.5M
Investors
10
Lead investors
4
Founders
2
Articles
77
Exited on
2020-11-19

Founders and investors

Founders

Brendan BrothersRaymond Pretty

Lead investors

Information Venture PartnersRBC Venture PartnersSpectrum EquityWells Fargo Capital Finance

Investors

BDC Venture CapitalBusiness Development Bank of CanadaNorthleaf Capital PartnersScotiabankSpectrum Equity