Conexus Venture Capital Invests $3 Million in Canadian Fintech Cyder for Credit Union Loyalty Programs
Conexus Venture Capital's CVC Fund No. 2 has invested $3 million in Cyder, a fintech startup enhancing loyalty programs for credit unions. The funding round was oversubscribed and included contributions from MaRS IAF, Graphite Ventures, and Sprout Fund. Cyder aims to expand partnerships and scale its platform across Canada and the U.S. The investment aligns with Conexus's focus on credit unions, as both firms seek to improve member engagement and competitive standing against major banks.
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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.
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