DES MOINES, Iowa–Curql Collective, a CUSO that acts as a venture capital fund backed by credit unions, said that through its Curql Fund I it has made an investment Neural Payments, which offers “breakthrough peer-to-peer payments solutions.
Curql Collective said that with the investment in the Montgomery, Ala.-based company, Neural Payments will gain capital for marketing efforts, staff expansion and other expenses related to its rapid anticipated growth, as well as networking access to subscriber and investor credit unions looking for cutting-edge fintech solutions.
“Offering software as a service, or SaaS, Neural Payments’ peer-to-peer payments solution integrates into the credit union’s own mobile banking app, allowing users to send money to anyone directly within the app, with no third-party app needed,” Curql Collective said.
It explained that through the software, payments are directed to other financial institutions or even to third-party apps to streamline the payment experience and help credit unions retain members within their brands throughout that experience.
‘Fast & Easy’
“Peer-to-peer payments technology has made it fast and easy to pay anyone, and with Neural Payments’ solution, it’s about to get even easier for members while helping credit unions maintain and deepen member relationships at a great value,” said Curql Collective CEO & President Nick Evens. “Just like all of our Curql Fund I investments, it’s about finding solutions that offer wins for both the member and the credit union, and for that reason, we’re tremendously excited to make this investment in Neural Payments for the future of our industry.”
Additional Funding
In addition to the funding it has received from Curql Fund I, Neural Payments has also received funding from New York-based fintech venture capital firm Mendon Venture Partners, which helps funnel new technology to community banks.
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