DES MOINES, Iowa–Curql Collective has made a sizeable investment in the retirement planning startup Silvur.
The Curql Fund, a credit union-managed venture capital fund, played a major role in Silvur’s fundraising, contributing an investment of $3 million of the total $5 million in funds raised along with Idaho Central Credit Union and Michigan State University Federal Credit Union’s wholly owned CUSO, Reseda Group, according to the CUSO.
“Silvur is designed especially to help those nearing or already in retirement navigate the tricky nuances of retirement budgeting, including Social Security, Medicare and early retirement healthcare, taxes and more,” Curql Collective said. “By breaking down choices in easy-to-understand steps and terminology, Silvur demystifies the process of preparing for and thriving in retirement.”
To date, Silvur, which aims to marry modern technology with modern retirement, is being used by more than 120,000 Americans nearing retirement age, according to the CUSO.
‘An Innovative Solution’
“Retirement is something many Americans look forward to, but the complexities of managing finances in those years can dampen anyone’s excitement,” said Nick Evens, president and CEO of Curql Collective. “With Silvur, the decisions we face in retirement are brought down to size and communicated in ways that make sense to the average person. Plus, the fact that it’s all brought together– that simply hasn’t been done before. It’s an innovative solution, and we know that credit unions will love sharing this technology with their members. We’re excited to be a part of it.”
As CUToday.info reported, Silvur was the winner of VentureTech 2021 and runner up in the 2021 NACUSO Best Ideas competition.