By Nancy Dahlberg
Nymbus, a Miami Beach-based provider of banking-as-a-service solutions, banking technology solutions, closed a $5 million round of financing led by the Curql Fund to accelerate Nymbus CUSO, which was founded three months ago to help credit unions manage fintech solutions.
“Our investment in Nymbus CUSO by our flagship fund is based on the level of differentiation it brings to the credit union space,” said Nick Evens, CEO of Curql, in a statement. “Their technology is more than a digital solution that works within a credit union; its Banking-as-a-Service model allows credit unions to quickly stand up an entirely digital organization that includes the required people, processes and technology.”
Nymbus CUSO was founded in March to help credit unions break through barriers to growth. Its mission is to connect credit unions with trusted fintech offerings that both simplify technology delivery and enable new digital revenue opportunities. The investment by Curql -- a venture capital fund founded last year and managed by credit unions -- follows a $20 million funding round recently led by VyStar Credit Union to advance the development of Nymbus CUSO.
John Janclaes, president of Nymbus CUSO, said the company has aggressive plans to accelerate the capabilities of credit unions and extend their reach to new niche segments. “This investment is further validation that Nymbus’ fresh model for growth is the path for any credit union to not only compete, but thrive long-term, in this extraordinarily competitive environment,” Janclaes said.
Nymbus, founded in 2015, provides a suite of banking technology, including Loan Origination, CRM and Digital, along with the operational resources to launch and run a new digital bank. In February, Nymbus announced it had raised $53 million in a Series C round led by Insight Partners, and another $15 million in April. With the new round announced today, the company has raised $116 million in capital.
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