AKUVO, a Malvern, Pa.-based fintech specializing in collections and credit risk, announced Wednesday that it closed a new round of funding totaling $10 million. The investment round's seven participants included the following five credit unions and two CUSOs:
- VyStar Credit Union ($13.6 billion, Jacksonville, Fla.)
- BCU ($5.7 billion, Vernon Hills, Ill.)
- Coastal Credit Union ($4.5 billion, Raleigh, N.C.)
- Launch Credit Union ($1.3 billion, Merritt Island, Fla.)
- Financial Plus Credit Union ($1.2 billion, Flint, Mich.)
- Reseda Group, a wholly-owned CUSO of the $7.2 billion, East Lansing, Mich.-based MSU Federal Credit Union
- Curql Collective, a Des Moines, Iowa-based CUSO focused on advancing credit union fintech innovation.
While VyStar, BCU, Coastal and Reseda Group all participated in a previous round of funding, Launch, Financial Plus and Curql Collective were new investors during this round.
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