Nymbus, a leading provider of innovative financial technology solutions, has recently announced a significant strategic investment from Gesa Credit Union.
Based in Washington, Gesa is a prominent financial institution with assets exceeding $5.5bn, serving close to 290,000 members across the Pacific Northwest.
This new funding is set to bolster Nymbus’ mission to support credit unions in achieving sustainable growth amid stiff competition from large banks and other FinTech firms. Nymbus specializes in empowering credit unions to overcome traditional barriers imposed by outdated technology and membership limitations.
The company offers a suite of solutions tailored to tackle the unique challenges faced by credit unions. These include the launch of niche digital brands to boost deposit growth, a bespoke SMB platform to cater to small businesses, and modernization tools to upgrade existing digital banking systems and core technologies.
With this investment, Gesa Credit Union aims to leverage Nymbus’ advanced technologies to offer more personalized financial solutions to its members, explore new market opportunities, and maintain a competitive edge against larger institutions. This collaboration will also see the creation of a new digital financial brand in the upcoming months, highlighting the potential of Nymbus’ innovative solutions.
Last year, Nymbus completed a Series D funding round, raising $70m, with contributions from both new and returning investors.
Don Miller, President and CEO of Gesa Credit Union, expressed enthusiasm about the future of this partnership. “”At Gesa, we’re always looking for ways to stay ahead of the curve and provide our members with the best possible financial services.
“Our investment in Nymbus reflects our commitment to innovation and growth. With Nymbus’ flexible technology, we’ll be able to offer our members tailored financial solutions, expand into new markets, and compete effectively with larger financial institutions. This partnership is about ensuring we can continue to meet the evolving needs of our existing and prospective members.”
Jeffery Kendall, Executive Chairman and CEO of Nymbus, added, “This investment from Gesa is crucial to our broader goal of leveling the playing field and enabling credit unions to compete effectively with enhanced accessibility, exceptional experiences, and unequivocal transparency.”
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