Investing in fintech. Investing in fintech. (Source: Shutterstock)

The Detroit-based digital banking platform provider Bankjoy secured funding from Curql Collective as well as three of its current and prospective credit union clients, Bankjoy announced Monday.

The three credit unions to participate in the investment round were: AEA Federal Credit Union ($360 million, Yuma, Ariz.), CommunityWide Federal Credit Union ($735 million, South Bend, Ind.) and Statewide Federal Credit Union ($170 million, Flowood, Miss.). Bankjoy did not reveal the total dollar amount of the investment round, or the specific amounts contributed by the three credit unions or Curql, a CUSO that raises capital for fintechs.

Recommended For You

Bankjoy, which serves more than 60 financial institution clients, said it plans to leverage the new funding to support its continued growth and facilitate ongoing product innovation. Features of the company's technology include mobile and online banking, e-statements, online account opening, online loan origination and conversational AI; it recently rolled out a standalone online account opening solution and business banking platform.

"As we see interest rates continue to rise, competition for deposits will likely intensify over the next 12 months among financial institutions and these trends will influence the digital transformation strategies for community banks and credit unions," Bankjoy CEO Michael Duncan stated. "Online and mobile banking apps have a serious impact on member and account holder satisfaction. Research from Deloitte reveals that frequent mobile banking users, defined as individuals who accessed mobile banking at least once in every two weeks in the last year, are more satisfied with their primary financial institution than non-users, demonstrating that the digital banking experience plays an important role in helping financial institutions retain and grow deposits."

Duncan continued, "We are thrilled to bring Curql on as an investor as Bankjoy continues to grow, as this latest round of funding will allow us to pursue new opportunities to redefine the digital banking experience and help more community financial institutions thrive in an increasingly competitive environment."

Nick Evens, president/CEO of Curql Collective, added: "We are proud to invest in Bankjoy, as we believe the right technology can positively impact how credit unions engage with their members and how members engage with their money. We look forward to supporting Bankjoy's next growth phase and helping more forward-thinking credit unions deliver digital banking experiences that exceed their members' expectations."

The news of Curql's investment followed five other fintech partnerships formed by the CUSO since mid-November of last year. On Nov. 15 and 29, Curql added the West Des Moines, Iowa-based LenderClose and business intelligence and analytics software provider BankBI to its fintech ecosystem, respectively. On Jan. 3, customer relationship management platform provider Total Expert joined Curql's fintech ecosystem, followed by financial education resource provider Ever Green 3C on Jan. 31 and Spave, a savings and donation tool provider owned by Michigan State University Federal Credit Union CUSO Reseda Group, on Feb. 7.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natasha Chilingerian

Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.