Eltropy, an award-winning compliant and secure digital communications platform for Financial Institutions, announces Series A investment by CMFG Ventures, the venture capital arm of CUNA Mutual Group.
CUNA Mutual Group is a leading insurance, financial services and technology company focused on middle market consumers that helps credit unions provide their members with solutions that help build financial stability.
“Eltropy’s digital communication solution has gone from a nice-to-have tool to a must-have platform for Credit Unions,” said Ashish Garg, CEO and founder of Eltropy.
“Eltropy is honored to be the newest member of CMFG Venture’s portfolio and remains committed to helping Credit Unions nationwide best serve their members. This investment will help us continue to build out our suite of digital communication offerings to best fit the demands of today’s Credit Unions.”
CMFG Ventures believes that hardworking consumers deserve more and is on a mission to identify and invest in the next generation of like-minded entrepreneurs to help CUNA Mutual Group continue its focus on serving middle market consumers, Credit Unions and their members.
“Communicating with members via multiple channels has become table stakes in an increasingly competitive financial services environment, and Eltropy offers a frictionless way to do so,” said Brian Kaas, president and managing director at CMFG Ventures.
“Eltropy’s dedication to enhancing Credit Unions’ technological capabilities is making them a popular choice and a perfect fit within CMFG Ventures’ portfolio.”
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.
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About CUNA Mutual Group
CUNA Mutual group is a financially strong insurance, investment and financial services company enabling people to make financial decisions that work for them. The company was built on the principle of “people helping people” and the belief that a brighter financial future should be accessible to everyone. For more information, visit cunamutual.com.
About Eltropy
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.
