Curql, a collective of over 160 credit unions, has closed its Curql Fund II with a record $360 million in capital. This is the largest fintech fundraise in the history of credit unions and brings the firm’s total assets under management (AUM) to over $600 million.
The fund, which is 40% larger than its predecessor, will be used to invest in fintech startups that can help credit unions remain competitive against larger financial institutions and big tech companies. By pooling resources, even smaller credit unions can gain access to cutting-edge technology.
Curql’s portfolio now includes roughly 50 companies, with a focus on AI lending, engagement, and cybersecurity. Over 30% of the U.S. credit union market already uses at least one Curql-backed fintech solution. The new capital will be deployed into promising partnerships to continue providing credit unions with innovative tools to serve their members.
KEY QUOTES:
“This fund and our business model are both a statement and a victory for the credit union movement. Together, we’ve built something unprecedented, and together we’ll now put this capital to work to help credit unions large and small bring the next generation of fintech to their members. This is the next chapter of credit unions leading digital transformation rather than chasing it, the next phase of battling unregulated fintech and monstrous investment by those continuing to try and disintermediate credit unions.”
Nick Evens, President and CEO of Curql Collective
“Fintech and credit unions are natural allies. We both face pressure from big tech. We both succeed through collaboration, and Curql makes it happen at scale. We’re already seeing the results.”
Brenda Worrell, CEO of Idaho Central Credit Union
