Facteus today announced a $10 million funding round led by Curql Fund, the investment arm for more than 75 credit unions across the U.S. The company will use the funds to support the growth of its Quantamatics platform, continued product innovation, and expansion into new industry verticals. In addition to the funding, Curql gives Facteus access to unlock the data assets of its Curql Collective owners, contributing tens of millions of new consumer debit and credit cards to its growing panel.
The company is a large provider of anonymized and synthesized consumer transaction data in the alternative data industry.
“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, its founder and CEO. “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,” added Nick Evens, president and 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 more than 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 Tucker. “It’s an honor to join (the) 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,” concluded Marsh.
