The USD 515 million in recapitalisation comes from Spectrum Equity and Information Venture Partners. Its client list includes almost 3,000 banks and credit unions across North America, and through this financing round, Verafin is allowed to accelerate their investments in product innovation and customer success.
Verafin will use the new capital to maintain a speedy clip of growth that’s seen 25 financial institutions with more than USD 5 billion in assets sign on to its services in the last 18 months. Spectrum will continue to back Verafin’s product-innovation led go-to-market strategy. Moreover, US-based independent investment bank and financial services company Houlihan Lokey served as financial adviser to Verafin.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now