Fuse raises $25M to disrupt aging loan origination systems used by U.S. credit unions
Fuse secured $25M in Series A funding to modernize loan origination systems for U.S. credit unions using AI.Summary
Fuse, founded by Andres Klaric and Marc Escapa, has raised $25 million in Series A funding led by Footwork, Primary Venture Partners, NextView Ventures, and Commerce Ventures to disrupt the loan origination system (LOS) market. The company aims to replace outdated, expensive legacy systems with an AI-native LOS that streamlines loan processing, automates underwriting, and reduces operational costs. Fuse currently serves over 100 customers and is offering a ‘rescue fund’ of $5 million to help credit unions transition to their platform without breaking existing contracts. Investors believe the U.S. credit union sector, with over 4,000 institutions, is ripe for technological overhaul, and Fuse’s AI solution addresses a critical need for modernization. Competitors in the AI-infused LOS space include Casca and Glide, while established players like nCino and MeridianLink are being challenged by Fuse’s innovative approach.
(Source：TechCrunch)