Finova Financial

lendingother lending

FOUNDING YEAR: 2016
LOCATION: United States
Last Update: 01/05/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

Finova Financial is a lending platform that provides fast affordable loans based on the equity of a vehicle. It has a proprietary credit scoring system. The maximum car equity loan is $5,000. The Finova client portal provides personalized access to their financial dashboard allowing real-time management of financial health.

Focus

PRODUCTS & SERVICES

Finova car equity line of credit services for underserved Americans. Users allow completing the loan process online, instant approval decisions and same day cash funding.

MAIN CLIENTS

Retail investors

COMMENT

The Finova Vehicle Equity Line of Credit provides clients with instant financing decisions, immediate access to capital, and a 12 month runway back to financial health all at costs that are 50% lower than the national average.

People

FOUNDERS

Derek Acree

BOARD MEMBERS AND ADVISORS

Carl Grant

Sheel Mohnot

NUMBER OF EMPLOYEES

11-50

INVESTORS:

500 Startups

Alhamragroup

Compound

CoVenture

Jacob Gibson

MHS Capital

National Financial Holdings

Polymath

Refactor Capital

Sam Hodges

Momentum

FUNDED

YES

TOTAL FUNDING

$155 M

DATE OF LAST FUNDING

Apr 2018

SEED CLOSED ON

Jan 2016

FUNDING SERIES

OTHERS  · $155 M · Apr 2018

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2016

LOCATION:

United States

Views:

112 VISITORS | 198 VIEWS
LATEST FUNDING ROUND

$155 M

TOTAL EMPLOYEES
11-50

About

Finova Financial is a lending platform that provides fast affordable loans based on the equity of a vehicle. It has a proprietary credit scoring system. The maximum car equity loan is $5,000. The Finova client portal provides personalized access to their financial dashboard allowing real-time management of financial health.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
People+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack