Venture Capital News: Mirador Completes New Financing
PORTLAND, OR, Mirador, a digital small business lending platform provider, has secured an undisclosed amount of funding.
CMFG Ventures, LLC, the venture capital entity of CUNA Mutual Group, announced its latest investment in Portland, Oregon-based, Mirador, a financial technology startup that provides a completely digital small business lending platform. Mirador supports lenders through a modern approach to borrower engagement in small business lending that can strengthen financial services relationships.
"Small business lending is an important area of opportunity for credit unions, yet the technology and process can be fragmented and difficult to navigate," said Brian Kaas, president and managing director, CMFG Ventures. "Through our investment in Mirador, together we can help credit unions provide another level of service to their members through better access to small business loans, further reinforcing the credit union's commitment to their local communities."
Mirador continues to push the financial services industry to provide more modern relationship banking experiences through its small business lending platform. The company's innovative technology supports a fully integrated, digital approach to borrower acquisition, loan application process, decisioning and borrower communication. The streamlined user experience creates efficiency to improve profitability in the complex small business lending process, which allows traditional lenders to compete in a changing lending market.
"Today's small business lending marketplace requires traditional lenders to couple their approach to relationship banking with greater efficiency and scale. Modern borrowers expect a fully digital and intuitive experience," said Trevor Dryer, CEO, Mirador. "We are happy to be working alongside CUNA Mutual Group as we strive to eliminate friction in the small business lending process. As we bring our services to more credit unions, we can help them provide a new standard of service for their members through small business lending."
CMFG Ventures actively engages and evaluates startup investments that best support credit unions in serving their members with new and innovative technology products and services. CMFG Ventures' investment strategy focuses on financial technology, data and analytics, consumer lending and asset protection technology, and advanced mobile channels. CMFG Ventures' complete portfolio of investments can be found here at http://www.cmfgventures.com/#portfolio.
For more information, visit the CMFG Ventures, http://www.cmfgventures.com/ or Mirador, https://www.miradortech.com/ websites.
Mirador a small business lending platform supporting established lenders with borrower acquisition, digital application, decisioning and borrower communication. Mirador leverages a streamlined user experience to create profitability and efficiencies in the lending process, giving traditional lenders the edge they need to compete. Mirador's core lending platform can be supplemented with two modules that support highly prequalified lead generation and a second look program, enabling lenders to implement or expand a fully functioning small business loan program with a single trusted partner.
About CMFG Ventures:
CMFG Ventures, LLC is the venture capital entity within CUNA Mutual Group that invests in strategic, early-stage fintech and insurtech companies that support CUNA Mutual Group and the credit union industry. Their investment strategy focuses on financial technology, data analytics, financial education and protection, and digital channels in order to address gaps and opportunities within the insurance, credit union and financial services industries. Additional information about the company can be found at www.cmfgventures.com.
About CUNA Mutual Group:
CUNA Mutual Group helps people plan, protect and invest for their future - regardless of their financial standing. The company was founded more than 80 years ago by credit union leaders who were looking for an insurance partner they could trust. Today, CUNA Mutual Group helps credit unions and hardworking Americans build financial security through commercial and personal insurance products; lending and payment security solutions; and risk management, retirement, investment and marketing services. Additional information about the company can be found at www.cunamutual.com
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Life, accident, health and annuity insurance products are issued by CMFG Life Insurance Company and MEMBERS Life Insurance Company. Corporate headquarters are located in Madison, Wis.
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