Reseda Group Invests $2M in Five Fintech Startups

EAST LANSING, Mich., June 6, 2023 /PRNewswire/ -- Reseda Group, a wholly owned credit union service organization (CUSO) of MSU Federal Credit Union (MSUFCU), today announced it is investing more than $2 million to support five emerging fintech companies – Strivve, Facteus, Pocketnest, Tandem and Ascent – as part of its commitment to discover and elevate innovative technology and solutions to revolutionize the credit union industry and member experience.

"We are pleased to support this group of dynamic fintech startups that are transforming the way credit unions engage with their members and members engage with their money," said April Clobes, President and CEO of Reseda Group and MSUFCU. "As the credit union industry continues to embrace fintech partnerships to build out stronger digital experiences and new growth opportunities, Reseda Group is proud to help foster next-generation technologies and make them more accessible to credit unions."

Reseda Group's fintech investments include:

• Strivve, a startup based in Seattle to help credit unions increase card usage and transaction volume by providing cardholders a way to instantly add or update cards online through its platform. It utilizes first-of-its-kind automation to instantly place any new or reissued credit card on any online account – at one time, in one place.
• Facteus, a leading data-as-a-service (DaaS) company headquartered in Portland, Ore., specializing in providing comprehensive consumer spending data to businesses in the financial sector, retail, government, research, and beyond. Through its innovative, AI-driven platform, the company delivers actionable insights derived from alternative data sources, empowering clients to make data-driven decisions.
• Pocketnest, a Detroit-based, fintech mobile app that licenses and white-labels its financial wellness software to financial institutions and employee wellness programs to coach their communities to comprehensive financial wellness – while driving business growth and identifying revenue opportunities.
• Tandem, a platform that is creating the infrastructure to capture the entire household's financial product purchases from day one. Tandem helps Gen Z and Millennial couples navigate their first money milestones and ultimately their financial futures by introducing them to life-stage relevant financial products.
• Ascent, a New York startup building the next-generation data platform that provides financial institutions with the tools and knowledge required to service their customers.

The investment in Pocketnest follows its pilot with five credit unions, including MSUFCU, where it is now fully available to all members. Tandem is also currently in pilot at MSUFCU, and both Ascent and Strivve will be launching pilots with the credit union this summer.

About Reseda Group
Headquartered in East Lansing, Michigan, Reseda Group is a wholly owned credit union service organization of MSU Federal Credit Union (MSUFCU). Formed in 2021, Reseda Group helps credit unions remain relevant and competitive by delivering the best products and services to their employees and member-owners through investing in strategic partners that bring innovative technology, digital resources, and credit union industry solutions to market. Learn more at resedagroup.com.

SOURCE Reseda Group