CVC invests in fintech focused on credit union loyalty

[REGINA, SK, Jan. 29, 2026] - Conexus Venture Capital has announced the completion of a $3 million oversubscribed fundraising round in Cyder, a Canadian fintech startup building modern personalized loyalty programs for credit unions.

Conexus Venture Capital’s CVC Fund #2 led the round with additional participation from MaRS IAF, Graphite Ventures and Sprout Fund.

With this new investment, Cyder will expand marketplace partnerships, accelerate onboarding of additional credit unions and continue scaling its platform across the United States and Canada.

The investment is a natural fit for Conexus Venture Capital. The Conexus Credit Union-led fund, backed by major credit unions, is now invested in a fintech startup supporting the credit union system with their loyalty programs.

Conexus Venture Capital supports high‑growth companies with the resources, networks and hands‑on support they need to scale.

Learn about Cyder

• Today, Cyder represents more than 1.5 million members across North America, with credit unions across both rural and urban markets already launching or preparing to launch modern loyalty programs built on the Cyder platform

• Cyder’s platform was built specifically for the cooperative financial sector and is already powering loyalty programs at institutions of all sizes: from small credit unions with roughly 8,000 members to large organizations serving more than 400,000

• Cyder’s mission is to strengthen member engagement, reward meaningful behaviours and help credit unions compete in a rapidly evolving digital banking landscape

Quotes

"Loyalty is more important now than ever and there is a massive opportunity in this space as it relates to credit unions. Will, Sukhman and the rest of the Cyder team have a passion for solving this problem and have a purpose-built solution which keeps the member top of mind. We're excited to be leading this financing round alongside a great group of co-investors."

- Jordan McFarlen, Managing Director at Conexus Venture Capital

“We’re seeing a clear shift. Credit unions aren’t asking whether they need loyalty; they’re deciding how fast they can launch it. This round allows us to meet that demand.”

- Sukhman Dulay, CEO and Co-Founder

For more information and to arrange interviews, please contact:

Michael Chmielewski
Media Relations Specialist | Conexus Credit Union
media@conexus.ca | 306-751-8201

About Conexus Venture Capital

Conexus Venture Capital (CVC) is an early-stage venture capital fund manager based in Saskatchewan. With a strong focus on backing the most ambitious builders in the Canadian prairies, the team currently manages $60 million in assets across two funds (CVC Fund #1 and CVC Fund #2). As an active investor, CVC often leads rounds, sets terms, syndicates deals and works closely with founders to accelerate growth. Learn more here.

About Cyder

Cyder builds modern and personalized loyalty programs for credit unions that strengthen member relationships and reinforce cooperative values. Built in partnership with credit unions, Cyder enables credit unions to reward meaningful financial behaviours, like opening accounts, staying on track with goals, engaging digitally and supporting local businesses all while strengthening belonging and long-term member relationships.

Cyder has been named one of Plug and Play’s Top 5 Canadian Startups (2023), selected as a Berkeley SkyDeck Batch company, and recognized by NEXT Founders Canada as a Top Venture. Most recently, Cyder was featured among Canada’s Top Fintechs by Framework, celebrating our commitment to building technology that keeps community at the centre of finance.

Learn more at getcyder.com