#Canada #London #VersaBank #Receivable Purchase Program #David Taylor

VersaBank Achieves Record US Funding Milestone in Receivable Purchase Program

In a remarkable display of growth and innovation, VersaBank has officially declared that it has partnered with its largest US Receivable Purchase Program (RPP) partner to date. This development is not only a testament to the effectiveness of the bank's strategies but also highlights its significant impact on the industry as a whole.

Funding Overview

On November 3, 2025, VersaBank announced that its US subsidiary, VersaBank USA, completed a notable initial funding of $61 million with the new partner. This marked a pivotal moment in the bank's fiscal journey, contributing to a total of $310 million funded in the fiscal year 2025. Notably, this funding surpassed the bank's inaugural year target of $290 million, showcasing its escalating foothold in the US market.

The RPP fundings in 2025 comprised $242 million from the core RPP offering and an additional $68 million sourced through the Securitized RPP offering. At year-end, the bank recorded $293 million in total RPP assets, with $227 million attributed to its core offering and $66 million from the Securitized segment. This dynamic performance significantly underscores VersaBank's strategic positioning and operational efficiency.

Positive Outlook and Expansion Plans

David Taylor, the founder and president of VersaBank, expressed enthusiasm over the partnership, stating, "We are thrilled to add our largest US RPP partner to date, which further validates the appeal of VersaBank's RPP. We are eager to expand our collaboration with this partner for mutual benefit and continue to forge new relationships in the upcoming year."

The bank anticipates noteworthy growth in its US assets, projecting an increase of several folds in fiscal 2026. This target reflects not only the bank's confidence in its current offerings but also its commitment to scaling its operations to meet the demands of underserved sectors in the banking industry.

About VersaBank

Operating without physical branches, VersaBank is characterized by its digital B2B approach, which leverages proprietary technology to effectively serve niche segments of the financial market. Founded with a vision to provide a safe and efficient banking alternative, VersaBank has positioned itself as a leader in delivering tailored financial solutions. Backed by a network of electronic intermediaries, the bank enjoys enhanced operational leverage, directly impacting its efficiency and profitability.

In recent years, VersaBank launched its innovative Receivable Purchase Program tailored specifically for point-of-sale financing companies, a model previously successful in Canada for nearly fifteen years. This program aims to tap into the expansive and underwhelming US market, presenting substantial opportunities for growth.

Furthermore, VersaBank's forward-looking technology includes initiatives such as tokenized deposits, pushing the envelope towards next-generation digital assets. The bank also owns DRT Cyber Inc., providing critical cybersecurity services amid rising threats to financial institutions and other entities.

Conclusion

This significant announcement represents more than just a funding achievement; it signals VersaBank's commitment to expanding its influence within the US credit market. With a clear vision and robust strategy, the bank is poised to advance further, leveraging its unique certifications and innovative programs to redefine the banking landscape. As the brand continues to gather momentum, it remains dedicated to enhancing partnerships and improving financial services for diverse communities both in the US and Canada.

The future looks promising for VersaBank as it shapes itself into a formidable player in the financial sector, armed with a technology-driven approach and an unwavering ambition for growth.