CMFG Ventures Discovery Fund

Leveling the playing field for
underrepresented founders


The Discovery Fund was created to support entrepreneurs who are building solutions for financial inclusion. The fund will invest $5 million annually in early-stage fintech companies led by BIPOC, LGBTQ+, and women founders.

Questions about the Discovery Fund

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The Discovery Fund Impact Report takes a deep dive into the Discovery Fund's purpose and why investing in solutions and entrepreneurs that work towards financial inclusion is important.

2022 Discovery Fund Impact Report

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Our mission is to find companies that are producing products and services that are actually improving the lives and financial health of everyday Americans, particularly low and moderate income consumers and those who have been underserved by the traditional financial system.

Elizabeth McCluskey
Director of Discovery Fund


Focus Areas

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Liquidity Management

Tools to manage cash flow, budgeting, checking/savings

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Credit Access

Credit building, alternative credit, affordable student/mortgage/auto/personal loans

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Wealth Building

Investment and retirement solutions for low and moderate income consumers

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Asset Protection

Insurance products that are innovative and/or expand access to underserved consumers


Financial Literacy

Tools to enable consumers to make financially responsible decisions


Investment Criteria

  • Pre-seed, seed and series A stage funding
  • CEO from underrepresented background
  • Primarily serving US consumers
  • Investments of up to $1 million
  • Equity and/or convertible debt investments
  • Syndicate (not lead) investor

It is rare for Latino or African-American founders to raise significant capital with just an idea… The investment from CMFG Ventures Discovery Fund provides a network of lenders that we hope will allocate resources to take a progressive borrower-centric approach towards equal access and reducing lending discriminations.

Steven Better
Co-Founder of Home Lending Pal


Current Discovery Fund Investments


Ascent is an underwriting, diligence, and monitoring layer that provides financial institutions with deep insight into a customer's financial background.


Caribou is a healthcare cost prediction and optimization software for the finance industry.


Climb is a student lending and payments platform intended to make career education more affordable and accessible.


CNote’s mission is to close the wealth gap by drastically increasing the capital flows into communities across America. This is done by partnering with leading community lenders that deliver on the promise of a more inclusive economy.


Conductiv offers data-driven lending guidance to reach new customers and members, maximize revenue, and minimize risk.


Cushion is reimagining the way consumers manage, pay and finance their bills — all while helping them avoid bank fees and build credit.


Daylight is the first LGBTQ+ digital banking platform in the United States. Daylight helps you design and meet your financial goals today — and tomorrow.


Frich makes money social. Frich helps Gen Z develop better financial habits leveraging the power of community and benchmarking.

Hello Divorce

Divorce online for a fraction of the cost and in 1/3 of the time, with all the expert financial and legal help you need.

Home Lending Pal

Home Lending Pal is an AI-Powered mortgage advisor and blockchain-based marketplace built to address the needs of first-time buyers.


Line is building an inclusive modern financial network that allows individuals to establish trust and credit-worthiness without the need for credit history, credit score or payslips.


Listo is an AI Fintech platform that partners with credit unions, banks and insurance carriers to provide more inclusive access to affordable financial services for the Latinx and marginalized communities.


Pulsate is a marketing communications platform enabling financial institutions to send personalized messages to members driving engagement, sales and loyalty.


Stackwell is a mobile application that delivers automated tools and education to help Black Americans stack and build wealth.

Sunny Day Fund

Sunny Day Fund is an employee benefits program focused on building liquid savings via payroll deductions and employer contributions.

The Beans

The beans simplifies the path to financial balance through evidence-based design and cutting edge technology, so consumers stress less about money and focus on what they love.


With a mission to drive financial inclusion, Zirtue is a relationship-based lending and alternative bill pay application that simplifies loans between friends and family with automatic monthly loan payments.