Leveraging its robust big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin can significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today. Verafin expects to deliver in excess of US$140 million 4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. A reconciliation ofnon-GAAPforward looking information to their corresponding GAAP measures cannot be provided without unreasonable efforts due to the inherent difficulty in quantifying certain amounts due to a variety of factors, including the unpredictability in the movement in foreign currency rates, Nasdaqs effective tax rate as well as future charges or reversals outside of the normal course of business. Verafin's quiet, huge success: Canada's largest venture funding deal Report Archives - Verafin 2023, Nasdaq, Inc. All Rights Reserved. Our diverse offering of data, analytics, software and Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. industry. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Verafin | Nasdaq Verafin - Crunchbase Company Profile & Funding documents will be available at the companys Investor Relations website, http://ir.nasdaq.com/investor-relations. Risks and uncertainties include, among other things, Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other expectations with respect to Verafins business and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management's attention from Nasdaqs ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafins business relationships, operating results, and business generally. Award-Winning Sales Intel. Verafin, a Nasdaq company, is an industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the proposed transaction; and the effect of the announcement or pendency of the transaction on Verafins business NEW YORK and ST. JOHN'S, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions.The agreement to acquire Verafin was announced on November 19, 2020.. Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. Quarterly results Annual reports SEC filings Letters to shareholders Financial strength rating Financials Letters to shareholders Read the latest message from Markel's co-chief executive officers to our business partners. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com. This cookie is used to store the user consent for the cookies in the category "Analytics". The cookie is used to store if a user has or has not consented to the use of cookies. This cookie is used to store the user consent for the cookies in the category "Other". Verafin analyzes customer activity across multiple transaction channels, providing you with robust alerts that highlight a wide range of fraudulent scenarios and protect you against fraudsters targeting your institution and customers. Fact Sheet Archives - Verafin Nasdaqs investment will help Verafin expand its These cookies ensure basic functionalities and security features of the website, anonymously. Sign up to receive the latest educational resources about today's financial Investors should not rely on any single financial measure when evaluating these businesses. This cookie is used to record the user consent for the cookies in the "Advertisement" category. Used by Microsoft Advertising as a unique ID for visitors. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. Nasdaqs clear commitments to the Province will help foster prosperity NEW YORK and ST. JOHNS, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions. . industry. This documentary-style series follows investigative journalists as they uncover the truth. Their latest funding was raised on Sep 25, 2019 from a Private Equity round. You can withdraw your consent at any time. The cookie is used to store if a user has or has not consented to the use of cookies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those 2023, Nasdaq, Inc. All Rights Reserved. Nasdaq highly values the skills and expertise of Verafin employees and will invest to both maintain and increase Additional financial terms were not disclosed. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. Verafin Inc Company Profile | St. John's, NL, Canada | Competitors This cookie is to record user's consent for the cookies in the category "Functional". Information Venture Partners is a Toronto-based team of experienced venture capital investors that focus on early-stage companies in B2B FinTech and Enterprise SaaS. Verafin Usa's Annual Report & Profile shows critical firmographic facts: What is the company's size? Verafin - Funding, Financials, Valuation & Investors Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. The transaction meets all of Nasdaqs acquisition investment criteria: Verafin is a strong strategic and cultural fit, accelerating Nasdaqs evolution into a technology, analytics Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads, according to the user profile. insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. In recent years, Verafin has observed a significant increase in wire fraud incidents across the industry, including cases of Business Email Compromise (BEC), targeted consumer Industry trends & hot topics delivered to your inbox. This enables BSA/AML professionals to perform powerful and efficient ongoing due diligence that is in line with the true risk the customer poses to the institution. Sachs& Co. LLC, Morgan Stanley and TD Securities. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Subscribe now to start reading premium, award-winning journalism. the last three years. Valuable research and technology reports. Enhances Nasdaqs performance and potential, with Verafins cloud products delivering ~30% compound. employment base, Nasdaq will work closely with Memorial University to grow its scholarship program at the University, enhance its co-op programs, and fund and supervise at least six Mitacs fellowships annually Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. These cookies are used for advertising, site analytics, and other operational purposes. Report Quarterly Cloud Insights Q1 2022 In recent years, Verafin has observed a significant increase in wire fraud incidents across the industry, including cases of Business Email Compromise (BEC), targeted consumer . expectations with respect to Verafins business after the completion of the transaction and realize expected synergies; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected Londons Investment Appeal Is Unraveling as Arm Heads to the US, Climate Change Is Launching a MutantSeed Space Race, British Parents Turn to Home Equity to Help Young Buy Property, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation, Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, US-Sanctioned Huawei Makes a Show of Force at Mobile Conference, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Russia Is Getting Round Sanctions to Secure Supply of Key Chips for Ukraine War, Philippine governor killed by gunmen while meeting villagers, An Emboldened Rishi Sunak Gets Ready to Fight His Own Party Over Taxes, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece, Matt HancockWhatsApp LeakExposes theNeed for Covid Justice, Brexit Might Have Been Prevented With Deals Like This, Video Roundup: Opinions Must-See Footage of the Week, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, What Do You Want to See in a Covid Memorial? 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HALIFAX Newfoundland and Labrador-based anti-financial-crime software firm Verafin has agreed to be acquired by stock-exchange operator Nasdaq in an all-cash deal valued at US$2.75 billion.