Eltropy, an award-winning compliant and secure digital communications platform for Financial Institutions, announces it has raised capital as part of its Series A funding from the Curql Collectives’s Curql Fund I, a venture capital fund led by industry-leading Credit Unions and managed by Next Level Ventures. This is the first investment for the fund.
The Curql Fund is the only fund of its kind, serving as a gateway between FinTech and Credit Unions. Investors include:
- Affinity Plus Federal Credit Union
- Alloya Corporate Federal Credit Union
- Altra Federal Credit Union
- Apple Federal Credit Union
- Ardent Credit Union
- Campus USA Credit Union
- Coastal Credit Union
- Community First Credit Union (Florida)
- Co-Op Financial Services
- Desert Financial Credit Union
- Educators Credit Union
- Evansville Teachers Federal Credit Union
- Farmers Insurance Group
- First Florida Credit Union
- Georgia’s Own Credit Union
- GreenState Credit Union
- Hudson Valley Credit Union
- Idaho Central Credit Union
- IH Mississippi Valley Credit Union
- Lake Trust Credit Union
- Meritrust Credit Union
- Michigan State University Federal Credit Union
- New England Federal Credit Union
- Redwood Credit Union
- SchoolsFirst Federal Credit Union
- Sound Credit Union
- State Department Federal Credit Union
- Suncoast Credit Union
- UNIFY Financial Credit Union
- Veridian Credit Union
- VyStar Credit Union
- Wright-Patt Credit Union
- Y-12 Federal Credit Union
“Eltropy is passionate about the Credit Union movement,” said Ashish Garg, CEO and founder of Eltropy. “Eltropy’s secure and compliant solution fulfills the needs of Credit Unions of all sizes based on our commitment to tailor-fitting our enterprise solution for our customers. We are honored to be the Curql Fund’s first investment and look forward to continuing to provide the best digital communications platform for Credit Unions.”
“As we focus on collaboration between FinTech and Credit Unions to cultivate technology to enable significant change in how members experience their Credit Union, Eltropy’s solutions to bridge communications channels became a natural fit,” said Nick Evens, president and CEO of Curql Collective.
With branches and lobbies closing as well as the increase in the remote workforce, Credit Unions’ demand for Eltropy’s product suite has increased significantly over the last year. Currently, Eltropy serves more than 200 Credit Unions of all asset sizes across the U.S. Additionally, CUNA Strategic Services named Eltropy as the “Best Text Messaging Solution for Credit Union” and is endorsed by over 80 percent of U.S. state and regional Credit Union leagues and associations.
“We’ve had our eye on the company’s technology for some time, and their ability to make a real impact by innovating through a digital communication platform is what we would like to cultivate and grow not only for the fund, but our initiatives to create value for both the FinTech and our Credit Union investors in Curql Collective,” added Evens.
Curql Collective is a collaborative approach that brings venture capital, credit unions, and fintech together. Launched in 2020 Curql is steered by a collective of forward-thinking credit unions, including former founders, operators, and leaders in the fintech and VC spaces. The group’s flagship – Curql Fund I – invests in the visions of entrepreneurs who thoughtfully and purposefully develop financial services technology that revolutionizes and innovates how people engage with their money.
Eltropy enables Financial Institutions to digitally engage in a secure and compliant way. Using our world-class digital communications platform, Credit Unions, Banks, Debt Collectors, Insurance Companies, Lenders and FinTechs can improve operations, engagement and productivity. Eltropy also integrates with IT systems, such as Symitar and Corelation, and uses Analytics to provide engagement insights. For more information about Eltropy, please visit eltropy.com.