PORTLAND, Ore. & NEW YORK--(BUSINESS WIRE)--Facteus today announced a $10M funding round led by Curql Fund, the investment arm for over 75 credit unions across the U.S.
Facteus has gained rapid growth and momentum among financial institutions, investors, and corporations by becoming the largest provider of anonymized and synthesized consumer transaction data in the Alternative Data industry. Facteus will use the funds to support the growth of Facteus' Quantamatics platform, continued product innovation, and expansion into new industry verticals. In addition to the funding, Curql gives Facteus unique access to unlock the vast data assets of its Curql Collective owners, contributing tens of millions of new consumer debit and credit cards to Facteus' growing panel.
“While the amount of data generated every year grows exponentially, not all data is equal in its insightfulness and value. Facteus believes there is enormous value in understanding how people and businesses spend money,” said Chris Marsh, Founder & CEO at Facteus. “We are excited to bring Curql on as an investor, as they share our vision for what we are building and have a deep knowledge of the credit union industry to help us acquire more data.”
“We are delighted to support Facteus' next phase of growth. We strongly believe in their vision to democratize Alternative Data insights through their data plus technology combination,” said Nick Evens, President & CEO of Curql Collective. “We see substantial opportunities for Facteus to integrate new consumer transaction data from our Curql Collective owners and continue expanding into adjacent markets.”
Dave Tucker, Partner at Curql Fund, will also be joining Facteus' Board of Directors. Tucker will bring 30+ years of experience in technology from Fortune 500 enterprises to startup journeys ending in successful IPOs.
“I’ve long shared Facteus’ belief that technology has the potential to grow and expand markets,” said Dave Tucker. “It’s an honor to join Facteus’ board of directors, and to be part of a cutting-edge company that’s constantly innovating and enhancing how the world uses data.”
“As the Alternative Data Industry continues to grow, the battle for data assets rages on with providers. I cannot think of a better FinTech and technologist thinker than Dave to collaborate with in bringing more data and innovation to Facteus,” said Chris Marsh, Founder & CEO at Facteus.
About Curql Collective
Curql Collective is a collaborative approach that brings investment capital, credit unions, and fintech together. Launched in 2020, Curql is steered by a collective of forward-thinking credit unions, including former founders, operators, and leaders in the fintech and investment spaces. The group's flagship – Curql Fund I – invests in the visions of entrepreneurs who thoughtfully and purposefully develop financial services technology that revolutionizes and innovates how people engage with their money. For more information, please visit www.curql.com.
About Facteus
Facteus is an alternative data and technology company democratizing data insights by safely unlocking valuable data sets and increasing data literacy. Our synthetic data engine, MIMIC™, safely unlocks sensitive data sets for research and insights purposes. Through our alternative data research, predictive analytics, and insights platform, Quantamatics™, Facteus provides a turnkey solution for streamlining data sourcing, management, normalization, and contextualization of a wide range of research and investment workflows. To learn more, visit www.facteus.com.
