Credit union tech provider Clutch raises $65m Series B
Clutch, a US-based tech provider “turning credit unions into fintechs”, has raised $65 million in a Series B funding round led by Alkeon Capital Management.

Clutch raises $65m Series B
The round was supported by Peterson Partners, Andreessen Horowitz and TruStage Ventures, with previous backing from CMFG Ventures and Curql Collective.
Launched by CEO Nicholas Hinrichsen and chief product officer Chris Coleman in 2020, Clutch currently serves over 135 credit unions in the US with its digital origination platform, offering solutions for loan origination and deposit account onboarding.
Hinrichsen says the Series B has provided “more than 200 months of cash runway”, with a company statement adding that the raise will be used to support “growth plans and product innovation”.
These plans will include “investments in AI and expanded platform capabilities”, the statement confirms, while according to LinkedIn, the company is also now focused on hiring engineering talent in Brazil.
Coleman indicates that the company will continue to maintain a partnership-focused growth strategy, stating: “We strongly believe that we can best serve the credit union movement by partnering with the existing technology providers and thereby leveraging the investments our credit union clients have already made.”
Clutch is currently partnered with regtech ViClarity for compliance reviews, Zest AI for credit decisioning, and most recently, the New York Credit Union Association (NYCUA) to provide credit unions with “advanced technology to enhance member experiences and streamline operations”.