EAST LANSING, Mich. — Reseda Group, a wholly owned credit union service organization of MSUFederal Credit Union (MSUFCU), announced $8 million in investments to support and grow several emerging 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 abetter member experience.
We are excited to partner with these rising stars in the fintech space developing next-generation technologies that will transform the way people think about personal finance and the way credit unions think about digital banking.
“At Reseda Group, we are focused on discovering and elevating the best and brightest fintechs 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 developing 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 technologysolutions, enables banks and credit unions of any size to grow and attract newmarket segments. Based in Jacksonville, Florida, Nymbus delivers a full suiteof banking technology applications available to modernize and optimize existingchannels, as well as the operational resources to get to market quickly with afull-scale digital brand immediately positioned at capturing new niche customersegments. Reseda Group is investing in Nymbus CUSO to create supportivestructures for credit unions ready to grow and reach new markets.
● Flow Networks is a consumer engagement and retention company. The Flow platform connects credit unions with cardholders during the payment moment forinteractions, including rewards, offers, and loyalty experiences. Flow helpscredit unions drive $20-$40 in revenue per active card annually, throughincreasing transaction volume, improving transaction profitability, mitigatingfraud, and adding cross sales. Reseda Group is investing in seed stage funding forthe fintech and its goal to help credit unions “own the payment moment.”
● Prizeout is a performance-based ad-techleader that allows customers to withdraw funds stored, earned, or won onlinewith digital gift cards to their favorite brands. Prizeout has partnered withcompanies in more than 11 different industries. The New York City-based companyprovides customers with a better experience by offering bonus value ontransactions, giving them more for their money, instantly. Reseda Group ispartnering with Prizeout to scale the platform, which also provides brands witha new advertising channel and partners a way to engage and retain customers.
● Larky is a consumer engagementfintech provider that empowers financial institutions to proactively connectwith their audience in the right place, at the right time. The Ann Arbor,Michigan-based company advances digital transformation in the banking sectorthrough its Larky nudge® platform, which delivers tailored turnkey pushnotification campaigns to selected account holders. Reseda Group is investing tomaintain its ownership stake and help the fintech continue to grow. SinceReseda Group’s initialinvestment in 2021, Larky has achieved record sales growth as clients use the Larkyplatform to increase credit card use, promote auto loans, share updates aboutbranch hours, alert account holders about best practices to avoid scams,measure client satisfaction and more.
“Reseda Group is proud to partner with each one of these dynamic companies,” said Ben Maxim, Reseda Group’s Chief Technology Officer and the Chief Digital Strategy and Innovation Officer 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 bringing new technologies, digital resources, and credit union industry solutions to market.”
About Reseda Group
Headquartered in East Lansing, Michigan,Reseda Group is a wholly owned credit union service organization of MSU FederalCredit Union (MSUFCU). Formed in 2021, Reseda Group helps credit unions remain relevant and competitive by delivering the best products and services to its 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.
This press release first appeared on PR Newswire.