Verafin provides fraud detection and anti-money laundering software for financial institutions.

Verafin Cofounder Brendan Brothers sits down with CBC News to discuss his company's recent sale to Nasdaq and his optimisim about Newfoundland and Labrador's tech industry.

Verafin’s suite of anti-financial crime management products combined with Nasdaq’s reach and regulatory technology leadership creates a global SaaS leader in the fight against financial crime.

The funding will accelerate Verafin’s product innovation roadmap and the expansion of sales and marketing initiatives into large financial institutions.

United Bank, one of the most successful regional financial services companies in the US, has selected Verafin to implement its cloud-based BSA/AML and fraud detection (FRAMLx) software.