CUNA Mutual Group Acquires Mirador
CUNA Mutual Group has acquired Portland, Oregon-based Mirador , a startup that offers a digital lending platform for small businesses. Founded in 2014 with $9.7m in funding, Mirador’s platform was built exclusively for banks, credit unions and other traditional lenders, to digitize the loan process and provide faster loan decisions.
In August 2017, CUNA Mutual Group became a minority investor in Mirador through its venture capital arm CMFG Ventures. “As a current investor in Mirador, we know first-hand the strength of their team and power of their platform. 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.” – President and CEO of CUNA Mutual Group, Robert N. Trunzo.
“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. We are happy to be working alongside CUNA Mutual Group as we strive to eliminate friction in the small business lending process and bring a new standard of service to small business lending across the financial services industry.” – cofounder and CEO of Mirador, Trevor Dryer.
Terms of the transaction were not disclosed.