About Nova Credit
Nova Credit helps newcomers to the U.S. by translating their international credit histories into standardized credit reports through its service called Credit Passport®. This allows financial institutions to assess the creditworthiness of these individuals, enabling them to access products like credit cards and loans. Additionally, Nova Credit offers Cash Atlas™, which uses bank transaction data to improve risk prediction for consumers with limited credit histories. The company aims to assist financial institutions in expanding their customer base and making informed lending decisions.
San Francisco, CaliforniaHeadquarters
2016Year Founded
$111.2MTotal Funding
SERIES_CCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees
Benefits
Medical, Dental, and Vision are 99% subsidized for Nova Credit employees, and 50% for dependents.
Nova Credit sponsored 401K plan.
On each work anniversary, Nova Credit will reimburse the cost of a roundtrip economy ticket to any destination in the world.
Unlimited vacation policy.
Risks
Equifax's new program may reduce Nova Credit's market share in cross-border credit.
Partnerships in Canada may lead to increased regulatory scrutiny and compliance challenges.
Nova Credit Platform launch poses operational risks in managing diverse data sources.
Differentiation
Nova Credit offers unique cross-border credit solutions like Credit Passport® and Cash Atlas™.
The company leverages alternative credit data to fill gaps in traditional credit analytics.
Nova Credit partners with major institutions like American Express and HSBC for credit solutions.
Upsides
Increased open banking adoption boosts demand for Nova Credit's alternative credit solutions.
Rising global immigration rates expand the market for Nova Credit's cross-border services.
Digital identity verification tech supports Nova Credit's international credit data initiatives.
Funding
Total raised$111.18 M
Latest valuation$225.00 M
StageSERIES_C
SERIES B
1/31/2020$50
$250.00 M$16
$80.00 M