AKUVO Closes $10 Million Investment Round
MALVERN, PA (April 5, 2023) — AKUVO, a technology organization specializing in collections and credit risk, has announced a new round of funding. AKUVO’s original investors all participated in this new round; they include the $13.7 billion VyStar Credit Union of Jacksonville, Fla., the $5.8 billion BCU of Vernon Hills, Ill., the $5 billion Coastal Credit Union of Raleigh, N.C., and Reseda Group, a wholly-owned CUSO of the $7.3 billion MSU Federal Credit Union of East Lansing, Mich.
New AKUVO investors include the $1.4 billion Launch Credit Union of Merritt Island, Fla., the $1.2 billion Financial Plus Credit Union of Flint, Mich., and the Curql Collective, a Des Moines, Iowa-based CUSO focused on advancing credit union fintech innovation.
According to AKUVO Founder Jay Mossman, the new investments will support the organization’s continued growth, focus on innovation and the ability to staff the organization to properly support new and existing customers.
“I’m humbled with the positive reception we’ve received since launching AKUVO and the introduction of our Aperture collections and credit risk platform,” Mossman said. “Financial institutions see the value in using a data-driven solution that leverages advanced cloud technology that can utilize machine learning and natural language processing. Aperture significantly improves collection recoveries while also maintaining loyalty and elevating the account holder’s experience.”
AKUVO prioritizes service after the sale, and recently expanded its Loyalty team which includes industry experienced advisors who help customers optimize Aperture to meet organizational goals and address ever-changing economic conditions.
“We’re committed to ensuring every financial institution on the Aperture platform receives as much value as possible,” Mossman continued. “Growth is a noble fintech pursuit, but responsible growth supported by excellent service elevates us above the competition.”
About AKUVO
AKUVO is a leading provider of cloud-native collections software solutions that elevate how banks, credit unions, and fintechs collect and manage their portfolios via its products. Whether it is through their stand-alone virtual collector, or its next-generation collections platform, AKUVO provides the technology and data necessary to increase collections efficiency, provide a digital consumer experience, reduce staff costs, anticipate delinquencies, and provide insight into future credit decisions. AKUVO delivers a digital future for collections and account performance management with a visionary, behavior-based approach while taking full advantage of emerging technologies such as artificial intelligence, natural language processing, and machine learning. To learn more, visit www.akuvo.com.
