CULedger, a Credit Union Service Organization (CUSO) which focuses on delivering innovative blockchain-based solutions for credit unions, announced that it has reached its goal of $10 million in Series A funding. In November last year, the organization stated it had reached 85% of the milestone. The investors are predominantly credit unions which CULedger says highlights the “market need, interest and support for MyCUID “.
Forty shareholders committed funds to the Series A, implying an average investment of $250,000 per organization.
CULedger’s flagship solution is called
MyCUID. The start-up teamed up with Evernym for development, and it also uses the
Sovrin Identity Network. In turn, Sovrin uses Hyperledger Indy technology for
self-sovereign identity, which was contributed to the open source organization by Evernym.
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