Founded in 2021, Toronto-based Cyder began as a real-time data analytics platform for financial institutions and pivoted in 2024 to deliver a loyalty-rewards solution tailored to credit unions. Its white-label software lets credit unions launch new offers in minutes, track more than 100 reward behaviours across transactions, community benefits, one-time incentives and ongoing rewards, and leverage consent-based purchase and behavioural data to craft targeted promotions. Over 20 credit unions in Canada and the U.S., ranging from 7,000 to 500,000 members, currently use the product. By helping smaller institutions partner with local merchants and reward behaviours such as setting up retirement deposits, Cyder aims to deepen member relationships and boost assets under management. The company positions itself as a mission-driven alternative to bank-centric programs, emphasizing community engagement and localized offers. Although revenue figures were not disclosed, management cites rapid onboarding times and growing client usage as competitive advantages. Cyder plans to continue scaling its credit-union footprint while enhancing data-driven personalization features.

Total raised

$4M

Funding rounds

2

Latest round

Seed

Latest activity

Feb 2026