Verafin, a canadian provider of anti-money laundering and fraud detection solutions for the financial services industry, closed a $5.5m equity financing in a round led by RBC Venture Partners, the venture capital investment arm of Royal Bank of Canada.
Current investor Killick Capital and founding Verafin investor Jamfin also participated in the funding.
The proceeds will support Verafin to extend its offering to a wider range of institutions including the larger bank market.
As part of the investment, Robert Antoniades, Managing Director and David Unsworth, Director of RBC Venture Partners, will be joining Verafin’s board of directors.
The company is Based in St. John’s, Newfoundland and Labrador.