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VeriFast

VeriFast is a Toronto company that verifies a renter's or borrower's identity and income directly from their bank data, replacing pay stubs and manual review. Tim Ray, Craig Schoen and Chad Guziewicz founded it in 2019; it raised a $3.5M seed in 2022 led by mortgage originator M3's venture arm.

ProptechTorontoFounded 2019verifast.com
$3.5Mseed round led by M3 Financial Group, announced September 2022Business Wire
8%more applicants approved without added risk — the company's own claim on its home pageVerifast

The people

Valerie SwatkowChief Marketing Officer · 1 TechTO talk
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Tim RayCo-founder & CEOprofile coming
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Craig SchoenCo-founder & CTOprofile coming
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Chad GuziewiczCo-founder & COOprofile coming

What they build

Tenant screeningBank-data income and identity verification for landlords and property managersProduct page ↗
Mortgage verificationAutomated income and asset analysis for mortgage underwritingProduct page ↗

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Working at VeriFast

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Open roles on the TechTO Job Board ↗Or their own careers page: verifast.com/careers ↗

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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.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 27, 2026