Madison, WI based lending technology startup CUneXus Solutions has announced $5m in Series A funding led by CMFG Ventures. CUneXus Solutions provides credit unions with mobile marketing technology to quickly and easily offer pre-approval for personalized lending products.
CUneXus uses advanced data analytics to help credit unions give members new insight into their personal borrowing power in the form of perpetual loan approvals presented within the credit union's mobile and online banking tools. The company's cplXpress platform delivers tailored refinancing and lending options through a simple, mobile-friendly experience that helps credit unions grow lending, reduce borrower acquisition costs, and guard against non-financial lenders. CUneXus currently works with 46 credit unions nationwide. 'Lending is foundational for credit unions, and keeping loans in the credit union ecosystem is crucial to their long-term growth,' said Brian Kaas, president and managing director, CMFG Ventures. 'CUneXus' technology gives credit unions better insight into members' creditworthiness and borrowing abilities, helping them offer targeted lending solutions using convenient mobile channels.'