Constellation receives $500,000 investment from CU Solutions Group
29 November 2017 | 1762 views | 0
Constellation Digital Partners, LLC is announcing a recent Class C investment from CU Solutions Group, a CUSO based in Livonia, Michigan. CU Solutions Group has more than 100 investors and 3,400 clients nationwide.
Constellation founder and CEO Kristopher Kovacs closed the investment with Dave Adams, president and CEO of CU Solutions Group.
The investment from CU Solutions Group marks the 12th investment in the revolutionary software platform since it launched in May 2017. The innovative company has accomplished the largest capital raise in credit union history and is slated to have its first product launched by the end of the year.
Constellation will offer a complete suite of digital financial services dedicated solely to credit unions. The company is building out its cloud-based financial services marketplace and platform that will allow credit unions and members to choose which services to use inside of a secure banking experience.
“Member expectations are very high when it comes to mobile experiences. Right now, credit unions aren’t delivering and Constellation will finally change that for our entire industry,” said Kovacs. “CU Solutions Group understands that mobile banking platforms currently limit a credit union’s ability to innovate far too often. Constellation breaks these barriers by replacing a credit union’s existing platform with an open, versatile solution, while CU Solutions Group’s LifeSteps™ Wallet services and content provide the perfect extension to the legacy online and mobile banking experience.”
To date, nine other credit union partners spanning nationwide and now totaling $20 billion in assets, have invested in the platform. The other partners include: Coastal Credit Union, Teacher’s Credit Union, CFCU Community Credit Union, Meritrust Credit Union, Farmers Insurance Federal Credit Union, Georgia’s Own Credit Union, Affinity Federal Credit Union, Kinecta Federal Credit Union and Nusenda Credit Union.
In total, the credit unions represent a massive user base of more than 1.5 million members. In addition to CU Solutions Group, CO-OP Financial Services and CUNA Mutual have also invested in Constellation.
“CUSG is dedicated to enhancing mobile services delivery for credit unions, most recently with the launch of our LifeSteps Wallet product,” said Dave Adams, president and CEO of CU Solutions Group. "As a mobile application developer, we are excited to leverage opportunities to collaborate and integrate our technology solutions with the Constellation platform.”