Versabank
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Location
Headquarters: Toronto, Ontario, Canada, North America
Region: Ontario
Country: CA
Continent: North America
About
VersaBank is a North American bank that operates as a fully digital, branchless institution. It uses a cloud-based, business-to-business model powered by proprietary technology to address underserved segments of the banking industry. The bank takes deposits and provides financing digitally through partner intermediaries who interact with depositors and borrowers, enabling a distributed, digital banking network across Canada and the United States.
VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital, branchless institution. It utilizes a business-to-business model, providing deposit and financing services through partner intermediaries across Canada and the United States. The bank serves B2B clients by offering financial technology solutions and cybersecurity services via its DRTC segment.
1979
for_profit
active
Industries
Primary Industry: Finance
Categories
Funding & Financials
Public Company
55000000
50m-100m
ipo
TSX:VB.PR.A
nasdaq
Investors
Founders
David R. Taylor
Leadership
Technology Stack
Products
Receivable Purchase Program (RPP): A digital funding solution for finance companies providing capital for consumer and small business loans, especially for large purchases.
Digital Deposit Receipts (DDRs): A proprietary digital asset technology enabling next-generation digital banking deposit instruments.
Cybersecurity Services via DRT Cyber Inc.: Cybersecurity solutions addressing threats to financial institutions, corporations, and government entities.
Digital, Branchless Business-to-Business Banking Model: A cloud-based, partner-driven banking model providing deposit and lending services digitally through financial intermediaries.
Real-Time Structured Receivable Program: An AI-enabled real-time version of VersaBank’s Structured Receivable Program that funds individual point-of-sale loans within hours.
Funding rounds
Post Ipo Equity · $86.25M · (2024-12-16)
Post Ipo Secondary · $60.25M · (2022-12-08) · Lead: GBH
IPO · (2014-10-31)