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The Venture Codex

CMFG Ventures

5910 Mineral Point Road, Madison, WI, 53705, United States

Overview

TruStage Ventures is a venture capital arm of CUNA Mutual Group that advances financial and insurance solutions through investments and innovation for consumers and financial institutions. The firm helps credit unions and hardworking Americans build financial security. It seeks to invest in financial technology, data analytics, education and protection, and digital channel sectors. CMFG was founded in 2016 and is headquartered in Madison, Wisconsin.

Total investments
37
Lead investments
11
Investments · 12mo
5
Active investors
3

Sector focus

  • Financial Services
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Investment portfolio

  • Debbie

    Led · Seed · Apr 2026

    Debbie builds a consumer rewards program that shifts rewards toward lower-income users by tying points and cash back to every dollar of debt payoff, every dollar of savings, and improved financial decisions. The company launched Rewards 2.0 to operationalize that approach and reported having more than 200,000 users on its platform. Debbie is led by founders Frida Leibowitz and Rachel Lauren. The startup is based in New York. Debbie recently raised a $5.3 million seed round to support its current user base and to scale toward millions of users. The article frames the company as addressing inequities in the traditional credit card rewards ecosystem.

  • Flora Fertility

    Participated · Seed · Apr 2026

    Flora offers individually-owned fertility insurance policies that cover diagnostics, medications, intrauterine insemination (IUI) and in vitro fertilization (IVF). Policies are available in the U.S. starting at about $20 per month and the platform already reaches over 10 million prospective policyholders across North America. Flora combines proprietary underwriting, individualized risk modeling, AI and omnichannel distribution, and is backed by A-rated insurance partners and a global reinsurance panel. The company plans to expand distribution and underwriting capabilities to grow access to proactive family-planning coverage in the U.S. and then Canada. Financially, Flora has just completed a $5M seed round to fund that expansion and category creation efforts.

  • RenoFi

    Participated · Series B · Mar 2026

    RenoFi builds technology that lets homeowners access renovation-specific financing tied to a home’s projected After-Renovation Value (ARV) instead of its current equity. Its flagship product, the Renovation HELOC, gives equity-light and recent homebuyers up to 11× more borrowing power without forcing a mortgage refinance. The company partners with credit unions and embedded lending platforms to distribute a full suite of renovation loan products across 48 U.S. states. Since launching in 2018, RenoFi has facilitated more than 8,000 loans, funding over $1.5 billion in renovations and analyzing $2 billion in project value through its proprietary underwriting engine. The platform now attracts roughly 10,000 new homeowners each month. RenoFi plans to triple its team of renovation-financing specialists and move toward near-real-time loan approvals by continuing to invest in its AI-enabled underwriting layer. Including the new Series B, the company has raised a total of $65 million in venture funding to date.

  • The Beans

    Participated · Seed · Nov 2025

    The Beans is a San Francisco–based company building a financial operating system tailored for caring professionals and the organizations that employ them. Its platform uses AI to manage cash flows and automatically execute financial tasks such as saving, debt repayment, and tax optimization, turning complex financial decisions into everyday peace of mind. In addition to individual tools, the company provides workforce-development resources to employers, aiming to relieve employee financial stress and improve retention. Recent product enhancements extend its reach into healthcare networks, educational institutions, and nonprofits, where large numbers of frontline employees face persistent financial pressure. The company plans to leverage new capital to deepen personalized recommendations and intelligent cash-flow automation features while scaling distribution partnerships across the healthcare and education sectors. Led by founder and CEO Melissa Pancoast, The Beans positions itself as both a fintech solution and an employee-benefits platform. No operating metrics such as revenue or user counts were disclosed in the article, but the funding signals investor confidence in its growth trajectory.

  • Piere

    Participated · Seed · Oct 2025

    Piere’s mobile and web platform plugs into users’ bank, Venmo, and CashApp accounts, then uses its proprietary MyPlan AI engine to analyse goals, habits, and blind spots and autonomously move money—shifting idle cash to higher-yield accounts, paying down high-interest debt, or investing when appropriate. The company pairs this direct-to-consumer app with white-label and co-branded solutions for banks, credit unions, insurers, and counselling organisations, positioning itself as underlying infrastructure for automated personal finance. In 2025 the startup tripled its user base and quadrupled paid subscribers, and users now open the app an average of four times per day. Current strategic partners include the National Foundation for Credit Counselling and Progressive Insurance, giving Piere access to large, financially diverse customer segments. Fresh capital will fund product development, additional engineering and growth hires, and deeper integrations with financial institutions as the firm pursues its goal of becoming the default financial operating system for Millennials and Gen Z. The female-founded company is led by CEO Yuval Shmul Shuminer alongside a lean team covering product, marketing, and engineering. To date the company has raised $2.1 million in outside capital.

Team