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Industry & Startups · Ontario

Toronto AI company Zafin makes first major acquisition since private equity takeover

The Globe and Mail ·

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Summary

Toronto-based Zafin has agreed to acquire Palo Alto software company Naehas for an undisclosed nine-figure sum in U.S. dollars, its first major purchase since Swedish private equity firm Nordic Capital took control in 2024. Naehas makes software banks use to deliver personalized digital marketing offers while meeting regulatory requirements. Zafin CEO Charbel Safadi said the deal, expected to close in 2026, would bring the company to 16 of the top 20 U.S. banks as customers.