Key Participation from the Firm's Leaders, Who Were Leaders Behind Open Solutions and Payveris, Secures the Commitment from California Credit Union
BOCA RATON, Fla., May 5, 2025 /PRNewswire/ -- Black Dragon Capital℠, a multi-phased investment firm that is led by recognized leaders in financial technology and credit unions who understand the unique needs of this market, has announced their partnership with California Credit Union.
Founded over a decade ago by recognized financial technology and credit union leaders, Black Dragon Capital℠ is a multi-phased investment firm focused on disruptive technologies in high growth industry segments that strengthen economic stability within communities. The firm is led by a collaborative team with a combination of intense operating experience, community impact focus, and a proven ability of transforming and growing companies.
California Credit Union is a federally insured, state-chartered credit union serving approximately 200,000 members¹. Named as Forbes Best-In-State Credit Union in 2024, the credit union offers a full suite of consumer, business and investment products and services, including comprehensive consumer checking and loan options, personalized financial planning, business banking, and leading-edge online and mobile banking to the community it has been serving for over 93 years.
After a thorough due diligence process, California Credit Union has entered a partnership with Black Dragon Capital℠ with the goal of addressing the significant business and competitive issues created by the ongoing digitization of financial services. This decision was heavily influenced by California Credit Union's own pain point of needing simplified reporting, combined with their familiarity with the leadership team behind Black Dragon Capital℠ who made a significant impact on fintech after building and transforming companies like Open Solutions and Payveris.
Through this collaboration, Black Dragon Capital℠ and California Credit Union hope to create and scale financial technology companies that can empower credit unions to transform their business and regain their member service advantage.
California Credit Union joins a growing list of the most innovative Credit Unions in the industry who have partnered with Black Dragon Capital℠ to reshape our community. They will work with the Black Dragon Capital℠ team to leverage the firm's global reach and technology-driven expertise, with the main objective of delivering innovative solutions dedicated to empowering credit unions to thrive in a rapidly evolving digital landscape.
Through this partnership, California Credit Union will also be able to best leverage the latest technologies to streamline their reporting workflow and partner with a collaborative firm that has seen success on a global scale.
"Technology is the great equalizer. By embracing innovation, we can create a more inclusive and efficient financial system. We look forward to the positive impact this partnership with Black Dragon Capital℠ can create for CFIs and CUSOs," said Steve O'Connell, President & CEO, California Credit Union.
The Black Dragon Capital℠ team's insights on operations, combined with their deep experience in cutting-edge technology puts them in a place to deliver competitive advantages for their portfolio companies and founders. Through intense research on the competitors and markets, they have honed their prowess in identifying scalable solutions and helping founders accelerate growth by cutting through competition.
"The future of finance is here, and Black Dragon Capital℠ is eager to help credit unions, community financial institutions, and CUSOs make the most out of technology to drive success," said Benson Porter, Senior Advisor, Black Dragon Capital.
"Ultimately, this partnership is about delivering greater value to Credit Union members and their communities. By empowering CFIs and CUSOs, we're empowering the communities they serve," said Chris Otey, Co-Founder, CU 2.0.
¹ As stated on their website.
² As stated on their latest PR as of writing this release.
About Black Dragon Capital℠
Black Dragon Capital℠, founded over a decade ago by recognized financial technology and Credit Union leaders, is a multi-phased investment firm focused on disruptive technologies in high growth industry segments that strengthen economic stability within communities. The firm is led by a collaborative team with a combination of intense operating experience, community impact focus, and a proven track record of successfully transforming companies.
About California Credit Union
California Credit Union is a federally insured, state-chartered credit union founded in 1933 with assets of $5 billion, approximately 200,000 members and 25 retail branches. Named a Forbes Best-In-State Credit Union in 2024, California Credit Union serves community members and businesses in the California counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura as well as school employees throughout the state². The credit union operates in San Diego and Riverside Counties as North Island Credit Union, a division of California Credit Union. The credit union offers a full suite of consumer, business and investment products and services, including comprehensive consumer checking and loan options, personalized financial planning, business banking, and leading-edge online and mobile banking. California Credit Union is certified as a Community Development Financial Institution (CDFI) with a Low Income Designation, offering inclusive products and services to build financial stability in our underserved communities, including a checking account certified as meeting the Bank On National Account Standards. Visit ccu.com for more information or follow the credit union on Instagram® or Facebook® @CaliforniaCreditUnion.
Media Contact:
Deb Schalm
Head of Marketing, Black Dragon Capital
[email protected]
Aren Wong
Social Media Manager, Black Dragon Capital
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SOURCE Black Dragon Capital
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