CUNA Mutual Group acquires lendtech Mirador
Wisconsin’s CUNA Mutual Group has acquired Oregon-based digital lendtech Mirador as it aims for more action in the lively lending sector.
Terms of the transaction were not disclosed
Terms of the transaction were not disclosed but the deal follows on from August 2017 when CUNA Mutual became a minority investor in Mirador through its venture capital entity, CMFG Ventures.
“As a current investor in Mirador, we know first-hand the strength of their team and power of their platform,” says Robert N. Trunzo, president and CEO, CUNA Mutual Group. “Through this acquisition, Mirador’s digital lending platform will complement our existing portfolio of lending solutions to help credit unions grow small business loans.”
According to the firms, Mirador’s cloud-based platform is for relationships between small businesses and lenders, enabling banks and credit unions to decision loans within 24 hours or less.
Mirador works with banks and credit unions across the US and has processed more than $2 billion in small business loan applications.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, its subsidiaries and affiliates. Corporate headquarters are in Madison.
