LINTHICUM, Md.–State Employees Credit Union of Maryland has become the latest CU to report it is partnering with Black Dragon Capital to invest in fintech.

Now a decade old, Black Dragon Capital describes itself as a multi-phased investment firm focused on disruptive technologies in high-growth industry segments. 

“The firm is led by a collaborative team with a combination of intense operating experience, community impact focus, and a proven ability to transform and grow companies to strengthen economic stability within communities,” Black Dragon Capital stated.

The $5.57-billion SECU has more than 250,000 members.

‘Extensive Due Diligence’

“After an extensive due diligence process, SECU has opted to enter a strategic partnership with Black Dragon Capital, which aims to explore approaches to the business and competitive challenges arising from the ongoing digitization of financial services,” Black Dragon Capital said in a statement. “This collaboration between Black Dragon Capital and SECU is focused on supporting the development of financial technology initiatives intended to assist credit unions transform and streamline their workflow while continuing to deliver the highest-quality member service possible.”

‘Listened Intently’

“SECU is deeply committed to providing the best financial services to our members. We have listened intently to the Black Dragon Capital team’s vision, which aligns with our belief that stronger financial services are the backbone of empowered communities,” Jason Reimer, EVP-chief infrastructure and infrastructure officer with SECU, said in a statement. “This partnership is an important, innovative step towards a new era of financial empowerment, and we are excited to unlock new technologies that will directly benefit our growth across Maryland.”

Black Dragon Capital said it will provide insights on operations and deep experience in cutting-edge technology positions it to advise portfolio companies on strategies that may strengthen market positioning.