close

Newfoundland company secures $550 million equity and debt recapitalization

The worlds largest financial crime management software has secured a $550 million equity and debt recapitalization. Verafin, a Newfoundland company,…

This article was published more than 1 year ago, information might not be accurate.

Ali Taghva Montreal, QC

The worlds largest financial crime management software has secured a $550 million equity and debt recapitalization.

Verafin, a Newfoundland company, will continue its path of market domination as it has now sealed financing by Spectrum Equity’s current investing fund and Information Venture Partners’ (IVP) new fund with participation by new backers Northleaf Capital Partners, BDC Capital and Teralys Capital.

Senior debt financing for the transaction was led by Wells Fargo Capital Finance and included Scotiabank in the syndicate.

Verafin provides a cloud-based, secure software platform for Fraud Detection and Management, Compliance and Management, High-Risk Customer Management and more.

According to Verafin’s site, their cloud-based cross-institutional software is used by “nearly 3000 financial institutions to fight financial crime and strengthen regulatory compliance.”

Join us!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Thank You!

Support The Post Millennial
Accepted payment methods: Visa, Mastercard, American Express  and Paypal
Ali Taghva
0
Join The Discussion