Fintech Veteran Back in the Game with New Malvern-Based Venture

man in blue shirt and gray coat
Image via Akuvo.
Jay Mossma.

Six years after he sold the last company he founded, Main Line fintech veteran Jay Mossma is back with Malvern-based Akuvo. The new venture offers loan software for credit unions, writes Jeff Blumenthal for the Philadelphia Business Journal.

The startup is currently raising $1.65 million in seed money. Mossma plans to tap his past relationships to build its client base.

“The difference between what we are doing and others is that we have both portfolio analytics and collections on the same platform,” said Mossman. “So you can see your risk strategy and collections strategy.”

Mossman moved from Pittsburgh to the Philadelphia area in 1999 to run Premier Solutions. In 2000, he founded Malvern-based Akcelerant and served as its CEO. Six years later, he spun off its IT infrastructure business to focus on developing software for credit unions and banks.

That firm was acquired in 2015 by global banking software firm Temenos for an estimated $50 million. Mossman remained with the company until 2019.

A year later, he decided to get back in the game and founded Akuvo. His goal for the future is to “grow like crazy.”

Read more about Akuvo in the Philadelphia Business Journal.

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