I N V E S TME N T ACT I V I T Y I N 2 0 2 0 Spo t l i ght on At l ant i c Canada
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Startup Spotlight In 2002, David Kelly, a Memorial University alumnus with experience in the banking industry, believed there was a need for advanced anti-money-laundering soft- ware. A teamwas put together fromMemorial’s faculties of business and engineering that included Jamie King, Raymond Pretty and Brendan Brothers. Kelly continued to be involved with the company as a mentor.
and the solutions required by banks and credit unions for daily operations. They researched a complete end- to-end anti-financial crime management solution and in 2003, they founded Verafin. In 2009, a $5.5 million Series A investment into Veraf- in was led by RBC Venture Partners with participation from existing investor Killick Capital. At the time, Ver- afin’s thesis was that the 2008-2009 global financial crisis would lead to stricter rules and regulations around
Jamie, Brendan, and Raymond set out to examine the ever-growing problem of fraud and money laundering,
202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape
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