Curql Invests in Wagmo Pet Healthcare Platform

The financial cooperative sector is expanding its reach into employee and member well-being benefits, with Curql, a prominent investment group representing over 160 credit unions, announcing a strategic investment in Wagmo. This move underscores a growing trend where financial institutions are prioritizing comprehensive benefits that address the evolving needs of their communities, including the significant financial commitments associated with pet ownership.

Wagmo, a New York-based innovator in modern pet healthcare solutions, will leverage this capital infusion to broaden its distribution through the credit union network. The partnership is designed to introduce Wagmo's suite of services, encompassing pet insurance, wellness reimbursement programs, and round-the-clock virtual veterinary consultations, to a wider audience of credit union members and employees nationwide. This strategic alignment taps into the core mission of credit unions to enhance the financial health and security of their members.

Christie Horvath, the founder and CEO of Wagmo, highlighted the shift in societal perception of pets, stating, "Pets have transitioned from being mere companions to integral family members, and employee benefits are now reflecting this reality." She further emphasized the alignment with credit unions' values, noting, "Credit unions understand that supporting their teams and members extends to caring for their entire families, including their four-legged dependents. We are honored to have the backing of this industry as we strive to make exceptional pet care more accessible."

Nick Evens, President and CEO of Curql Collective, articulated the investment's rationale, explaining, "Curql focuses on ventures that bolster the financial well-being of credit union members." He pointed to the increasing prevalence of pets in households, noting, "With more households having pets than children, families often encounter substantial financial pressures when their animal companions require medical attention. We are pleased to support Wagmo, an organization that simplifies and reduces the cost of pet care, while strategically positioning itself as both a valuable member perk and a compelling employee benefit."

Wagmo's platform currently serves over 5 million employees across more than 19,000 employer groups, demonstrating significant traction in the employee benefits market. The company's expansion, fueled by Curql's investment, aims to further penetrate the market, bringing essential pet healthcare coverage to an even greater number of employees and their beloved animals. This growth aligns with the broader market trend of employers seeking differentiated benefits to attract and retain talent, with pet-related benefits gaining considerable traction.

The pet healthcare sector has seen robust growth, driven by increased pet adoption and a willingness among owners to invest more in their pets' well-being. The global pet care market is projected to continue its upward trajectory, with spending on veterinary services and insurance forming a significant segment. Curql's investment in Wagmo positions the fintech collective to capitalize on this expanding market, offering a relevant and in-demand solution to its network of credit unions.