CUNA Mutual Group acquires CuNexus

CUNA Mutual Group has acquired the digital lending platform CuneXus.

Robert Trunzo, CEO of CUNA Mutual

CUNA Mutual’s enterprise capital arm, CMFG Ventures, was an early backer of the platform, first investing in it in January 2017.

The acquisition was introduced Thursday. Monetary phrases weren’t disclosed.

CuneXus is meant to offer a seamless lending expertise throughout quite a lot of touchpoints, together with digital and tangible mortgage affords, on-line and cellular banking entry, click-to-accept mortgage functionalities and extra.

CUNA Mutual CEO Robert Trunzo mentioned the deal is a part of the corporate’s push “right into a extra numerous, digital-first world.”

“CuneXus is on a robust development trajectory, and including their experience and product answer to our firm portfolio permits us to maximise its development potential and improve our long-standing efforts to make a brighter monetary future accessible to everybody,” he added.

Dave Buerger, CEO of CuneXus, mentioned the 2 firms’ cultures and capabilities are nicely aligned, “and we imagine we are able to tremendously improve CUNA Mutual Group’s digital evolution within the lending house.”

CuneXus is anticipated to proceed working out of its Santa Rosa, Calif., headquarters. CUNA Mutual is predicated in Madison, Wis.

Greater than 140 monetary establishments at the moment work with CuNexus.

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