Giving Back: Genesis Grad Verafin Supports Local Start-up Community
Verafin was born in 2003 at the Genesis Centre, when founders Jamie King, Raymond Pretty and Brendan Brothers decided to take the technology they used to build robots for the mining industry and apply it in a new way to help fight financial crime. Since then, Verafin has grown to a staff of over 200 people, operates in over 1500 financial institutions, and has won countless awards as one of Atlantic Canada’s top employers. Today, Verafin is giving back to the next generation of great start-ups.
In 2016, Verafin outgrew their current office space on the corner of Newfoundland Drive and Portugal Cove Road. Needing more space to house additional talented employees, and more space to have NERF gun battles, Verafin made the decision to move offices to a new office building off Hebron Way. In the move Verafin is updating everything, including all of their office furniture. But then the question was posed; what will happen to their old chairs and desks?
Give back to the local start-up community, of course! Verafin contacted the Genesis Centre, and together the organizations worked out how best to disperse the large number of desks, chairs, bean bags, filing cabinets, and even a phone booth. “The work of the Genesis Centre is critical to the strength of the local start-up community,” says Jamie King, Verafin CEO. “They were important to our early growth and we’re excited to give back. We hope this donation will play a part in helping Genesis companies achieve continued success.”
Genesis portfolio and graduate companies alike were excited at the opportunity to acquire the furniture. As a small business grows, furniture costs can be some of the most difficult expenses to swallow. Constantly adding staff means constantly adding computers, desks, and chairs, which can add up quickly. “We are very thankful for the generous donation from Verafin.” said Michelle Simms, President and CEO of the Genesis Centre, “This company had it’s start at Genesis and it’s great to see them giving back to other startups in the ecosystem and to Genesis itself.” This donation will increase the chances of success for Newfoundland and Labrador early-stage startups.
Promising current Genesis start-ups Metrics Flow, Mysa Smart Home Thermostats, and Vish Salon Tech, along with exciting graduates Agile Sensors, HeyOrca, Solace Power, and Whitecap Scientific all accepted furniture from Verafin. These donations will ease the steep start-up costs associated with rapid growth, greatly increasing their chances of success.
This sort of support is what has kept the Genesis Centre and its portfolio companies growing for the past 20 years. So once again, thank you Verafin, and here’s to 20 more years of our NL start-up community.
To see and learn more about the Genesis Centre and our 20th Anniversary festivities, be sure to follow our publication here on Medium and check out our website. And to learn more about Verafin and their industry leading, cloud-based fraud detection and anti-money laundering software, be sure to check out their website.