CMFG Ventures LLC announced Tuesday that it has invested in a Chicago startup company that provides online mortgage origination systems to lenders.

The venture capital entity of CUNA Mutual Group led the extension for MortgageHippo Inc.'s seed round of approximately $2.25 million. MortgageHippo provides a digital mortgage platform designed to guide consumers through the mortgage origination process.

Brian Kaas, president and managing director, CMFG Ventures, based in Madison, Wis., said MortgageHippo will be valuable tool to allow credit unions to both cut costs and provide better service to members.

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Jim DuPlessis

A journalist for decades.