[ad_1]
Credit union technology provider Mahalo Banking has raised $20 million to fund its next phase of growth.
Mahalo Banking provided $20 million in funding
The funding round was led by Ohio Advanced Credit Union, the Kentucky Division of Community Credit Union and Delaware-based Dover Federal Credit Union.
As a Credit Union Service Organization (CUSO), Mahalo Banking provides online and mobile banking solutions to credit unions and will use the additional capital for further product development.
Mahalo says the platform was designed by individuals who have worked in the credit union industry, and the company says it offers “deep integration with credit union cores.”
“We weren’t looking for VC funding — we were looking for a credit union-focused investment,” said Jim Stickley, president and CEO of Mahalo Banking.
Phil Buell, president and CEO of Advanced Credit Union, said the company was an early supporter of Mahalo Banking and the company “fits with our business philosophy.”
The credit union is using Mahalo’s technology to advance its digital-first strategy, aiming to “find our members where they do business” and further enhance its online and mobile offerings.
[ad_2]
Source link
