Reseda Group invests $6.2 million in eight fintech companies

EAST LANSING–Reseda Group, a wholly owned credit union service organization of MSU Federal Credit Union, announced it has invested in six new financial technology companies: CU LIFT Fund, CURevl, Debbie, Origence, Members Mobile, and Ranqx.

Follow-on investments were also made in Ascent and Changed, resulting in a total investment of more than $6.2 million as part of its commitment to discover and elevate innovative technology and solutions to revolutionize the financial services industry.

“We are excited to support these visionary fintech founders and their companies who are transforming the financial landscape and pioneering technologies that redefine the way financial institutions and credit unions engage with their members and customers,” said April Clobes, President and CEO of Reseda Group and MSUFCU. “These investments not only demonstrate Reseda Group’s commitment to providing relevant solutions to meet the needs of our members, but also our belief in the power of using technology to reshape the future of financial services.”

Reseda Group’s fintech investments:

* Chicago-based Ascent’s permissioned data core is the first platform that enables financial entities and their customers to securely and bidirectionally share internal and external financial information, on a permissioned basis. Ascent enables banks and credit unions to act as trusted partners in helping consumers and small businesses navigate the financial marketplace.
* Chicago-based Changed is an actionable debt repayment platform for members that gains insights and drives results toward financial health. With Changed, credit unions can help members take action in a way that aligns with their budget and habits.
* Austin, Texas-based CU LIFT Fund is building a collaborative ecosystem that offers significant value to both credit unions and auto dealers. The net result is an exceptional auto buying experience that gives members the power to choose their dealer, their vehicle, and their credit union financing, all while preserving and promoting each credit union’s brand.
* Galveston, Texas-based CURevl is dedicated to helping credit unions provide college planning and education finance. CURevl focuses on delivering consumer financial products and services, creating value for credit unions and their members.
* Miami, Fla.-based Debbie’s mission is to help borrowers transition to wealth builders. Its platform celebrates and rewards all the positive actions customers take toward financial health, earning them cash rewards for saving and paying off debt while also unlocking better rates.
* Irvine, Calif.-based Origence provides lending technology to deliver the ultimate origination experience. With Origence, credit unions can increase loan volume, create efficiencies, and grow accounts. Origence’s solutions span indirect lending, consumer loan and account origination, marketing automation, auto shopping, and lending operations.
* Members Mobile is a national commercial Mobile Virtual Network Operator and the first and only 4G/5G mobile phone service provider exclusively for credit union members. The startup partners directly with credit unions to deliver an exclusive engagement platform that enhances financial wellness and personalization for the members.
* New Zealand-based Ranqx offers business lenders a fully digital loan origination, decisioning, and monitoring platform. It offers banks, credit unions, and lenders a fully digital application process that small- to medium-sized businesses can complete in under three minutes, and then leverages real-time data to underwrite a loan in less than five minutes. Removing borrower friction whilst increasing efficient SMB loan book growth and high value new deposits is how Ranqx is supporting community prosperity in SMB funding.

“We’re helping credit unions thrive through innovation, and each company we add to our partner ecosystem brings a new component to customer journeys,” said Ben Maxim, Reseda Group’s chief operating officer and chief innovation officer at MSUFCU. “We invest in solutions that help community financial institutions build digital relationships and create two-way dialogues with their consumers. We want to give people new ways to engage and interact with their finances and empower credit unions and community banks to be in a better position to serve their consumers.”

Formed in 2021, Reseda Group changes the way people interact with their finances and how financial institutions engage with their consumers. By leveraging innovative products developed in-house and through its partnership ecosystem, Reseda Group is making financial technology and engagement solutions more accessible and approachable to the industry. Learn more at resedagroup.com.

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