AKUVO, a technology organization specializing in collections and credit risk, has announced a new round of funding.
AKUVO’s original investors all participated in this new round; they include the $13.7 billion VyStar Credit Union of Jacksonville, Fla., the $5.8 billion BCU of Vernon Hills, Ill., the $5 billion Coastal Credit Union of Raleigh, N.C., and Reseda Group, a wholly-owned CUSO of the $7.3 billion MSU Federal Credit Union of East Lansing, Mich.
New AKUVO investors include the $1.4 billion Launch Credit Union of Merritt Island, Fla., the $1.2 billion Financial Plus Credit Union of Flint, Mich., and the Curql Collective, a Des Moines, Iowa-based CUSO focused on advancing credit union fintech innovation.
According to AKUVO Founder Jay Mossman, the new investments will support the organization’s continued growth, focus on innovation and the ability to staff the organization to properly support new and existing customers.
“I’m humbled with the positive reception we’ve received since launching AKUVO and the introduction of our Aperture collections and credit risk platform,” Mossman said. “Financial institutions see the value in using a data-driven solution that leverages advanced cloud technology that can utilize machine learning and natural language processing. Aperture significantly improves collection recoveries while also maintaining loyalty and elevating the account holder’s experience.”
AKUVO prioritizes service after the sale, and recently expanded its Loyalty team which includes industry experienced advisors who help customers optimize Aperture to meet organizational goals and address ever-changing economic conditions.
“We’re committed to ensuring every financial institution on the Aperture platform receives as much value as possible,” Mossman continued. “Growth is a noble fintech pursuit, but responsible growth supported by excellent service elevates us above the competition.”