Nova Credit Analysis: $121M Raised
What is Nova Credit?
Credit infrastructure leveraging alternative data for underwriting
Product Features & Capabilities
- Cash Atlas™ for bank transaction data analysis
- Credit Passport® for quick approval of newcomers
- Income Navigator for automated income verification
- Nova Credit Platform for seamless data onboarding
- Multi-source data orchestration for improved risk assessment.
How much Nova Credit raised
Funding Round - $121M
RecentOther Considerations
Raised $45M Series C financing; Serves over 7,000 customers globally; Operates as a consumer reporting agency under FCRA compliance.
Competitors
The main competitors of Nova Credit in the fintech space include:
1. Stilt
2. Trust Science
3. TomoCredit
4. QuadFi
5. Welcome Tech
6. Goscore
7. Jasper
8. Fair
9. Experian
10. TransUnion
1. Stilt
2. Trust Science
3. TomoCredit
4. QuadFi
5. Welcome Tech
6. Goscore
7. Jasper
8. Fair
9. Experian
10. TransUnion
Recent News
- Expansion with SoFi - Nova Credit has expanded its multi-year relationship with SoFi, utilizing its consumer-permissioned data and analytics solution, Cash Atlas, to enhance loan underwriting capabilities.
- Improved Document Fraud Detection - Nova Credit launched an enhanced document fraud detection feature for its Income Navigator tool, which aims to better analyze PDFs and images while detecting sophisticated tampering. [Read more here](https://thepaypers.com/digital-identity-security-online-fraud/nova-credit-launches-improved-document-fraud-detection-for-income-navigator--1272079).
- Partnership with MoneyLion - Nova Credit has partnered with MoneyLion to integrate cash flow analytics into its decision-making engine, which will help broaden access to credit for consumers. [Read more here](https://thefintechtimes.com/moneylion-integrates-nova-credits-cash-flow-analytics-for-broader-credit-access/).
- Collaboration with Akoya - Nova Credit teamed up with Akoya to facilitate US lenders' access to customer cash flow and income data, in anticipation of upcoming open banking regulations. [Read more here](https://www.openbankingexpo.com/news/nova-credit-teams-up-with-akoya-ahead-of-us-open-banking-regulation/).
HQ Full Address
44 Montgomery St, 3rd floor, San Francisco, California 94104, United States
