St. John’s-based Verafin, the world’s largest financial crime management software company, has closed a $515 million equity and debt recapitalization, which it says is one of the largest growth financings ever by a Canadian software company.
Verafin, whose software helps banks battle fraud and money-laundering, said it has enjoyed tremendous growth in recent years, hitting $100 million in annual recurring revenues this year. It added its vision of fighting financial crime through collaboration and cross-institutional analysis is fast becoming the industry standard for fraud detection and