CUNA Mutual Group has acquired fintech startup Mirador.
Mirador’s digital lending platform enables banks and credit unions to make decisions on loans within 24 hours or less, CUNA Mutual said. The acquisition of the Portland, Ore., startup will help deliver “a seamless experience for borrowers and lenders through a completely digital small business lending platform," CUNA Mutual added.
The price of the transaction was not disclosed.
In August 2017, CUNA Mutual acquired a minority stake in Mirador through its venture capital entity, CMFG Ventures.
“As a current investor in Mirador, we know firsthand the strength of their team and power of their platform,” Robert N. Trunzo, president and CEO of CUNA Mutual, said in a press release Wednesday. “Through this acquisition, Mirador’s digital lending platform will complement our existing portfolio of lending solutions to help credit unions grow small business loans and deliver an exceptional lending experience to their members."
Trevor Dryer, co-founder and CEO of Mirador, said in the press release that “today’s small business lending marketplace requires traditional lenders to couple their approach to relationship banking with greater efficiency and scale. Borrowers expect a fully digital and intuitive experience.”
This marks the
