Northwestern Mutual backs Zirtue
Dallas-based lending app Zirtue has received a ‘significant’ investment from Northwestern Mutual Future Ventures , Northwestern Mutual’s corporate venture capital fund. To date, the company has raised $4 million.
Founded in 2018 by Co-founder and CEO, Dennis Cail, Zirtue is a relationship-based lending application that simplifies loans between friends, family and trusted relationships with automatic ACH loan payments. “At Zirtue, we’re using fresh thinking and cutting-edge technology to make unsecured personal loans between friends, family and trusted relationships honest, secure, simple and accessible. The result is an exciting new approach to credit lending that has the potential to radically expand credit access and improve the lives of millions of consumers while increasing the profits of thousands of businesses, shaking up a multi-billion-dollar industry in the process.”
“Friends and family are among the largest banks in the world, loaning $184 Billion annually to loved ones. Loaning money can damage relationships, and Zirtue is the modern day solution by providing a seamless, structured way for people to be paid back, while taking the awkwardness out of those conversations and transactions. By investing in the problem we are trying to solve, Northwestern Mutual is demonstrating their commitment to financial inclusion, and given their 160+-year old standing in the financial industry, we are honored to partner with them.” – Dennis Cail co-founder and CEO.
“Zirtue is leveraging technology to provide a unique offering and tapping into a market that is often underserved in the financial services industry. Zirtue aligns with Northwestern Mutual’s commitment to providing financial inclusion and their recent growth demonstrates the unmet need for this type of lending platform. We look forward to partnering with Zirtue and continuing to advance and grow the company.” – Craig Schedler, managing director, Northwestern Mutual Future Ventures.