Verafin
 | |
| Type | Subsidiary |
|---|---|
| Industry | fraud detection technology and anti–money laundering |
| Founded | 2003 |
| Founders | Jamie King Brendan Brothers Raymond Pretty |
| Headquarters | , Canada |
Area served | Worldwide |
| Key people | Stephanie Champion (Executive Vice President, Head of Nasdaq Verafin)[1] |
| Parent | Nasdaq, Inc. |
| Website | verafin |
Verafin Inc. is a Canadian fraud detection technology and anti–money laundering software company based in St. John's, Newfoundland and Labrador, Canada.[2] The company was established in 2003 by Jamie King, Brendan Brothers, and Raymond Pretty.[3]
History
[edit]Verafin was founded by Jamie King, Brendan Brothers, and Raymond Pretty in 2003 in St. John’s, Newfoundland and Labrador, Canada.[4] The company was part of Genesis, Memorial University's business incubator, and the Newfoundland and Labrador Credit Union was its first customer.[5]
In December 2019, the company announced it had raised C$515 million, the largest venture capital funding in Canada at the time.[6]
On November 19, 2020, American financial services company and stock exchange operator Nasdaq, Inc. announced a deal to buy the company for US$2.75 billion. The deal was completed in February 2021.[2] At that point, the company was serving around 2,000 clients—mostly small and medium-size banks.[7]
By 2026, the company's platform was utilized by over 2,750 financial institutions, representing over US$11 trillion in collective assets.[8]
Awards and recognition
[edit]- June 2012: Verafin was awarded the Exporter of the Year award by the Government of Newfoundland & Labrador's Department of Innovation, Business and Rural Development.[9]
References
[edit]- ↑ "Nasdaq Verafin and BioCatch: Fighting Payment Fraud". FinTech Magazine. September 3, 2025.
- 1 2 Rendell, Mark (November 19, 2020). "Nasdaq to buy Canada's Verafin for US$2.75-billion". The Globe and Mail. Retrieved November 19, 2020.
- ↑ Taylor, Roger (December 30, 2020). "Roger Taylor: 2020 business deals ranged from lobsters to nano-tech and everything in between". The Chronicle Herald. Retrieved January 5, 2021.
- ↑ Moreira, Peter (November 19, 2020). "Flashback: The Culture That Made Verafin". entrevestor.com. Retrieved August 20, 2026.
- ↑ "Luminus Award - Verafin Founders". Memorial University of Newfoundland. Retrieved August 20, 2026.
- ↑ Kirkwood, Isabelle (September 25, 2019). "St. John's-based Verafin closes massive $515 million in financing | BetaKit". Retrieved August 25, 2026.
- ↑ Tully, Shawn (February 8, 2021). "Roger Taylor: 2020 business deals ranged from lobsters to nano-tech and everything in between". [Nasdaq at 50: The company behind the tech-stock index reinvents itself as a financial-tech heavyweight]. Retrieved May 27, 2021.
- ↑ "Nasdaq Verafin Report Finds the Financial Crime Epidemic Reaching Alarming New Heights as Illicit Financial Activity Surges to $4.4 Trillion in 2025" (Press release). Nasdaq, Inc. March 11, 2026. Retrieved April 23, 2026.
- ↑ Canada, National Research Council (November 30, 2015). "Fighting financial fraud – Innovative software acts like a detective". nrc.canada.ca. Retrieved April 4, 2025.
External links
[edit]
 | This article about a Canadian corporation or company is a stub. You can help Wikipedia by adding missing information. |
 | This Newfoundland and Labrador-related article is a stub. You can help Wikipedia by adding missing information. |
- Financial technology companies
- Financial services companies of Canada
- Companies based in St. John's, Newfoundland and Labrador
- Canadian companies established in 2003
- Financial services companies established in 2003
- 2021 mergers and acquisitions
- Nasdaq, Inc.
- Canadian subsidiaries of foreign companies
- Canadian company stubs
- Newfoundland and Labrador stubs