CUneXus Solutions Receives Series A Funding
MADISON, WI, CMFG Ventures, the venture capital entity of CUNA Mutual Group, today announced its investment in California-based CUneXus Solutions.
CMFG Ventures, the venture capital entity of CUNA Mutual Group, today announced its investment in California-based CUneXus Solutions, a financial technology start-up providing credit unions with mobile marketing technology to quickly and easily offer pre-approval for personalized lending products. CMFG Ventures is the lead investor in CUneXus' Series A funding round.
CUneXus uses advanced data analytics to help credit unions give members new insight into their personal borrowing power in the form of perpetual loan approvals presented within the credit union's mobile and online banking tools. The company's cplXpress platform delivers tailored refinancing and lending options through a simple, mobile-friendly experience that helps credit unions grow lending, reduce borrower acquisition costs, and guard against non-financial lenders. CUneXus currently works with 46 credit unions nationwide.
'Lending is foundational for credit unions, and keeping loans in the credit union ecosystem is crucial to their long-term growth,' said Brian Kaas, president and managing director, CMFG Ventures. 'CUneXus' technology gives credit unions better insight into members' creditworthiness and borrowing abilities, helping them offer targeted lending solutions using convenient mobile channels.'
This investment reinforces CUNA Mutual Group's ongoing commitment to helping consumers and their families plan for, protect and invest in their future.
'Providing a personalized and streamlined member experience in the lending process is a critical focus for credit unions,' said Dave Buerger, co-founder and CEO, CUneXus. 'By empowering members with perpetual loan approval and instant one-click activation, we've eliminated much of the friction and introduced a new level of clarity and convenience that benefits both the credit union and the member.'
Launched in 2016, CMFG Ventures actively engages and evaluates start-up investments that best support credit unions in serving their members with new and innovative technology products and services. CMFG Ventures' investment strategy targets innovative start-ups focusing on data and analytics, consumer lending and asset protection technology, and advanced mobile channels. To date, CMFG Ventures has invested in a number of start-up companies, including ForeverCar, SpringboardAuto.com, Cumulus Funding, and SmartAsset.
About CUneXus Solutions:
CUneXus is focused on data-driven consumer lending solutions that help financial institutions maximize the potential of valuable customer relationships through on-demand lending and borrowing. The company's cplXpress product suite is used by nearly 50 U.S. financial institutions. CUneXus has been named one of ten startups to watch on KPMG's global report of 'The 50 Best Fintech Innovators,' selected to participate in Silicon Valley's renowned Plug & Play Fintech accelerator, and acknowledged as one of 20 FinTech Forward 'Companies to Watch in 2017' by American Banker and BAI. For more information, please visit the CUneXus website at www.cunexus.com.
About CMFG Ventures:
CMFG Ventures, LLC is the venture capital entity within CUNA Mutual Group that focuses on strategic, early-stage investments in the credit union, financial services, and insurance industries. Additional information about the company can be found at www.cmfgventures.com.
About CUNA Mutual Group:
CUNA Mutual Group helps people plan, protect and invest for their future - regardless of their financial standing. The company was founded more than 80 years ago by credit union leaders who were looking for an insurance partner they could trust. Today, CUNA Mutual Group helps credit unions and hardworking Americans build financial security through commercial and personal insurance products; lending and payment security solutions; and risk management, retirement, investment and marketing services. Additional information about the company can be found at www.cunamutual.com.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about