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About
VeriFast automates the paperwork step in tenant screening and mortgage underwriting. An applicant connects their bank account and the platform pulls income, employment and identity signals from the transaction data, returning an analysis rather than a folder of uploaded documents for a leasing agent or underwriter to read. The pitch to landlords is throughput with the same risk appetite: the company's own site claims it lets operators approve 8 percent more applicants without taking on more risk. It started in residential rentals and extended into mortgage underwriting after a $3.5 million seed round in September 2022 led by M3 Financial Group, one of Canada's largest mortgage originators, investing through its venture arm — a lead that doubles as a distribution channel. Other backers in that round included HGTV contractor Scott McGillivray, through his real-estate education company Keyspire, and Susan White Livermore. The company now styles itself Verifast. Valerie Swatkow is its chief marketing officer.
Backers
M3 Financial Group led the $3.5M seed through its venture arm, with Scott McGillivray via Keyspire and Susan White Livermore participating. Reported by Business Wire and BetaKit at the time of the round.
Quick answers
What does VeriFast do?
It verifies who an applicant is and what they earn by reading their bank data directly, so landlords and mortgage lenders can decide without collecting and checking pay stubs and statements by hand.
Who founded VeriFast?
Tim Ray, Craig Schoen and Chad Guziewicz, in Toronto in 2019.
How much has VeriFast raised?
A $3.5 million seed round announced in September 2022, led by mortgage originator M3 Financial Group's venture arm, which also funded its move into mortgage underwriting.
Who from VeriFast is in this directory?
Valerie Swatkow, its chief marketing officer, who hosted TechTO's April 2022 Safe and Connected Cities demo day while chief development officer at Highline Beta.