Article

Conexus Venture Capital's CVC Fund No. 2 has completed a $3 million investment in Cyder, a Canadian fintech startup specializing in loyalty programs for credit unions. The funding round, which was oversubscribed, also involved MaRS IAF, Graphite Ventures, and Sprout Fund.

Cyder plans to use the investment to expand marketplace partnerships and scale its offerings in Canada and the United States. This strategic investment aligns with Conexus's goal to support credit unions in enhancing member loyalty and competitiveness against larger banks, as Cyder aims to drive greater adoption of credit unions among consumers.