measures, including organic revenue growth, non-GAAP EBITDA and ROIC. privacy. relationships, operating results, and business generally. 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. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. ST. JOHNS, Newfoundland and Labrador--(BUSINESS WIRE)--Verafin, the worlds largest financial crime management software company, announced today the completion of a C$515 million equity and debt recapitalization. Please refer to our, The proposed deal comes just over a year after Verafin clocked the biggest venture funding round in Canadian history: a $515-million equity and debt recapitalization deal to help build out its product innovation and land bigger clients in the banking sector. Verafin Cookie. Founders Brendan Brothers, Jamie King, Raymond Pretty. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Verafin respects your The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. When used in this communication, words such as will, believes, can and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. However you may visit Cookie Settings to provide a controlled consent. This cookie is used to store the user consent for the cookies in the category "Analytics". ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. This cookie is used to store the user consent for the cookies in the category "Other". may be different from non-GAAP measures used by other companies. Using artificial intelligence Join industry-leading anti-financial crime experts as they reveal results of trend analysis of an immense set of anonymized data from financial institutions in the Verafin Verafin is the industrys leading Financial Crime Management platform, trusted by financial institutions using iCore360 core banking systems to strengthen compliance and combat evolving financial Industry trends & hot topics delivered to your inbox. Osler, Hoskin& Harcourt LLP acted as Nasdaq intends to pursue its Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial Scotiabank and BDC Venture Capital are the most recent investors. 18 Hebron Way. Necessary cookies are absolutely essential for the website to function properly. involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Sachs& Co. LLC, Morgan Stanley and TD Securities. discussion of this and other non-GAAP measures. The forward-looking statements included in this communication are made only as of the date hereof. Verafins comprehensive suite of anti-financial crime management products with Nasdaqs reach and established regulatory technology leadership to create a global SaaS leader in the fight against financial crime, a worldwide problem that Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Verafin Financial Crime Management Jack Henry. To connect multiple page views by a user into a single Clarity session recording. The cookie is used to store if a user has or has not consented to the use of cookies. Robert WEBB,
[email protected] 709.752.3050 ext. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. Nasdaq and Verafin disclaim any obligation to update these forward-looking statements, except as required by law. Analytical cookies are used to understand how visitors interact with the website. Verafin respects your Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. Verafin raised a total of $422.2 M in funding over 3 rounds. Ed Ditmire, CFA: +1 212 401
[email protected], Ryan Wells: +1 646 648 3887
[email protected], Yan-yan Tong: +46 (0)73 449 66
[email protected], Longview Communications & Public Affairs (Canada)Ian Hamilton: +1 905 399
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[email protected]. Represents one of the largest ever growth financings of a Canadian software business, Funding will accelerate Verafins product innovation roadmap and the expansion of sales and marketing initiatives into large financial institutions. 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C$100 million in annual recurring . To connect multiple page views by a user into a single Clarity session recording. the last three years. Verafins existing executive leadership team will continue to lead the company. Copyright 2019, Verafin Solutions ULC All rights reserved. Automation and vendor solutions, a US$13billion We also use third-party cookies that help us analyze and understand how you use this website. This cookie is used to record the user consent for the cookies in the "Advertisement" category. Sign up to receive the latest educational resources about today's financial Verafin Inc. Website. 2023, Nasdaq, Inc. All Rights Reserved. These symbols will be available throughout the site during your session. A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. Refer to the non-GAAP information section of this release for a This website uses cookies to improve your experience while you navigate through the website. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. In addition, Nasdaq admires the extensive charitable and community support that Verafin has provided to date and comparative measure. This website uses cookies to improve your experience while you navigate through the website. Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. 1 Includes the impact of the acquisition of Verafin +19% YoY increase $1,871M Annualized recurring revenue 4Q21 Progress on Key Metrics Confirm our Confidence in our Strategy 7 Solutions Segments. A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. 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. this transaction. will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. The pattern element in the name contains the unique identity number of the account or website it relates to. reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at Verafin will continue to operate in St. Johns, Newfoundland and Labrador as a stand-alone organization aligned with Nasdaqs Market Technology business. Create your Watchlist to save your favorite quotes on Nasdaq.com. READ MORE Verafin expects to deliver in excess of US$140million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth The transaction accelerates Nasdaq's ongoing . Articles, Webinars, White Papers and more. Verafin, the world's largest financial crime management software company, announced today the completion of a C$515 million equity and debt recapitali . Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . To track previous page view id and url. These cookies will be stored in your browser only with your consent. 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 We are thrilled to welcome Verafins talented employees into the Nasdaq family and look forward to supporting local institutions in Newfoundland and Labrador to promote continued innovation.. What will they do with all the cash? Nasdaq or Verafin, and the anticipated timing of closing of the proposed transaction. Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. Our diverse offering of data, analytics, software and Visitwww.verafin.com,
[email protected] call 866.781.8433. Get a D&B Hoovers Free Trial. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. $=jQuery; It works only in coordination with the primary cookie. LinkedIn sets the lidc cookie to facilitate data center selection. 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. This cookie is to store the resource that was in user's last activity. The cookie is a session cookie and is deleted when all the browser windows are closed. Nasdaq intends to finance the Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. This cookie is used to store user's information to prepopulate the forms and track user's site usage. This communication contains forward-looking information related to Nasdaq, Verafin and the proposed acquisition of Verafin by Nasdaq that It is expected to close in the first quarter of 2021. Verafin Cookie. The transaction meets all of Nasdaqs acquisition investment criteria: Verafin is a strong strategic and cultural fit, accelerating Nasdaqs evolution into a technology, analytics The company's line of business includes providing computer programming services. items. Learn More About CTRs > Learn More About SARs > Integrated Case Management. alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. This cookie is used to store the user consent for the cookies in the category "Performance". We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits.