Michael Gokturk and VersaPay are on top

By Erin Mason

Since graduation, Michael Gokturk, BA'99, has been busy. He started out in capital markets and investment banking and in 2005, he founded VersaPay with his long-time client and good friend, Keith Short. Gokturk is VersaPay's CEO.

VersaPay's success thus far is impressive. They began with Vancouver and Montreal offices and recently expanded to Toronto. Now with over 50 employees and 3,000 clients, further Canadian expansion is planned in Alberta, the East Coast and Gokturk is eyeing US expansion too.

With their impressive growth, Profit Magazine named them as the Top Emerging Growth Company in Canada for 2009-and that was during a recession. That year, VersaPay grew 10,132 percent and took the number one ranking on the HOT 50 List. They recently went public, listing their shares on the TSX.

Gokturk believes VersaPay's culture and commitment to customer service excellence sets them apart from their competition. He has high standards for their growth and for his employees too. "We're all accountable to each other and it boils down to trust, honesty and integrity," he says. These values and expectations were ingrained in Gokturk as a student.

"It's wasn't just what we learned in class but how we were treated," he says. "Expectations were high and that helped me develop my character. I learned from experience to recognize my mistakes and become financially literate in all situations."

On the horizon for VersaPay is the launch of a new and innovative payment system, Versa-EFT. "I'm excited about what this will do for Canadians and Canadian businesses-allowing them to transact in real-time and for less than the cost of a stamp," says Gokturk. "It's efficient and a much greener solution for companies that print a lot of invoices and cheques." There's also the possibility of acquisitions, if the fit is right.

"We're a homegrown, grassroots organization," Gokturk says. "We remember where we came from and our success is all about relationships and I learned this at U of C."

Learn more about VersaPay and read their Profit Hot 50 story here.