Reseda Group invests USD 8 million in pioneering fintech companies
EAST LANSING, Mich., March 9, 2023 /PRNewswire/ — Reseda Group, a wholly owned credit union service organization of MSU Federal Credit Union (MSUFCU), announced 8 million dollars in investments to support and grow more new fintech companies. The investments are spread across the four companies – Nymbus, Flow Networks, Prizeout and Larky – and are part of Reseda Group’s efforts to bring innovative technology and solutions to help credit unions create a better member experience.
“At Reseda Group, we are focused on discovering and elevating the best and brightest fintech and dynamic solution providers to help credit unions build better for their members and communities,” said April Clobes, president and CEO of Reseda Group and MSUFCU. “We are excited to partner with these rising stars in the fintech space to develop next-generation technologies that will transform the way people think about personal finance and the way credit unions think about digital banking.”
Reseda Group’s investments include:
- Nymbus, a leading provider of banking technology solutions, enables banks and credit unions of all sizes to grow and attract new market segments. Located in Jacksonville, Florida, Nymbus provides a complete suite of banking technology applications available to modernize and optimize existing channels, as well as the operational resources to quickly go to market with a full-scale digital brand immediately positioned to capture new niche customer segments. Reseda Group invests in Nymbus CUSO to create supportive structures for credit unions that are ready to grow and reach new markets.
- Flow network is a consumer engagement and retention company. The Flow platform connects credit unions with cardholders at the point of payment for interactions including rewards, offers and loyalty experiences. Flow helps credit unions operate $20–$40 in revenue per active card annually, by increasing transaction volume, improving transaction profitability, reducing fraud and adding cross-selling. Reseda Group invests in seed stage funding for fintech and the goal of helping credit unions “own the payment moment.”
- Prize withdrawal is a performance-based ad technology leader that allows customers to redeem money saved, earned or won online with digital gift cards for their favorite brands. Prizeout has partnered with companies in more than 11 different industries. The New York City-based company gives customers a better experience by offering bonus value on transactions, giving them more bang for their buck immediately. Reseda Group is working with Prizeout to scale the platform, which also gives brands a new advertising channel and partners a way to engage and retain customers.
- Lerky is a consumer engagement fintech provider that empowers financial institutions to proactively connect with audiences in the right place, at the right time. The Ann Arbor, Michigan-based company is driving digital transformation in the banking sector through its Larky nudge® platform, which delivers customized turnkey push notification campaigns to selected account holders. Reseda Group invests to maintain its stake and help fintech continue to grow. Since Reseda Group’s initial investment in 2021, Larky has achieved record revenue growth as customers use the Larky platform to increase credit card usage, market car loans, share updates on business hours, notify account holders of fraud best practices, measure customer satisfaction and more.
“Reseda Group is proud to partner with each of these dynamic companies,” said Ben Maxim, Reseda Group’s chief technology officer and head of digital strategy and innovation at MSUFCU. “Through strategic investments and partnerships with cutting-edge fintechs like Nymbus and innovative ad-tech companies like Prizeout, we are delivering an elevated member experience that will not only help credit unions remain successful and relevant, but also bring new technologies, digital resources, and credit union industrial solutions to the market.”
About Reseda Group
With headquarters in East Lansing, Michigan, Reseda Group is a wholly owned credit union service organization of MSU Federal Credit Union (MSUFCU). Formed in 2021, Reseda Group helps credit unions stay relevant and competitive by delivering the best products and services to their employees and member-owners by investing in strategic partners that bring innovative technology, digital resources and credit union industry solutions to market. Learn more at resedagroup.com.
SOURCE Reseda Group
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