Clutch, a fintech company, has raised $65 million in its Series B funding round, led by Alkeon Capital Management with participation from Andreessen Horowitz, TruStage Ventures, and Peterson Partners. The funding will enable Clutch to expand its AI-driven platform and enhance digital services for credit unions, allowing them to better compete in the digital-first financial landscape. CEO and Co-Founder Nicholas Hinrichsen emphasized the company's strong financial position and commitment to providing a comprehensive technology solution for credit unions. With more than 135 clients, including 6 of the 10 largest credit unions in the U.S., Clutch continues to strengthen its presence in the financial sector.
Founded in 2020 by MIT and Stanford graduates Christopher Coleman and Nicholas Hinrichsen, Clutch develops digital banking origination software tailored to credit unions. “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,” said Coleman. Mark McLaughlin of Alkeon Capital said that Clutch’s platform positions credit unions for growth by combining strong member relationships with enhanced digital capabilities, helping them maintain a competitive edge in an increasingly digital financial environment.
