January 28, 2021
Constellation Digital Partners Secures $18 Million in Additional Funding
Credit Union Partners Reinforce Commitment to Enable Expansion of Services
RALEIGH, N.C. – Jan. 28, 2021 –– Constellation Digital Partners, a Credit Union Service Organization (CUSO), has recently completed its second round of funding, securing $18 million from its original Class A investors. The additional funding reflects the investors’ commitment to the success of Constellation and enables the expansion of its service solutions, increased scaling deployment through additional implementation teams and the ability to now provide solutions to all credit unions (beyond original investors).
Constellation is a unique open-development platform that disrupts the encumbering legacy structure of credit union relationships with their core technology provider. The platform allows credit unions to access a variety of financial services in order to offer members enhanced digital experiences. With a fully-realized platform and cloud-based ecosystem built, this recent funding round expands Constellation’s ability to offer additional services increasing the credit union industry’s ability to compete.
“With this new funding, our investors are reinforcing their commitment to owning their digital future,” said Kris Kovacs, president and chief executive officer of Constellation. “They recognize the incredible progress we have made and have further invested to continue the drive toward their innovative ends.”
“We believe Constellation and its open banking platform is a huge step toward modernizing the credit union industry,” said Keith Sultemeier, president and chief executive officer of Kinecta Credit Union. “Constellation gives us easy and rapid collaboration with the Fintech community and other innovators from within the credit union industry.”
While this second round of funding has closed, subsequent Constellation CUSO investment opportunities are now open to additional credit unions interested in innovative digital solutions independence. To learn more about Constellation, visit www.constellation.coop.
About Constellation Digital Partners, LLC:
Constellation has created the first open development platform – providing a patented, secure and flexible cloud-based ecosystem that enables credit unions and innovative app developers to provide safe, reliable, and next-generation digital financial service experiences. Giving credit unions the freedom to compete, innovate, and thrive in the financial services industry redefines what they offer, delivering digital financial services in a way that enables them to place members at the center of their business strategy. Visit www.constellation.coop to learn more. And, connect with Constellation on Twitter, Instagram (@ConstellationDP), Facebook and LinkedIn.