• FOUNDING YEAR: 2016
    LOCATION:
    United States
    REGION:
    Florida
    Last Update:
    9 Sep, 2019

Description

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, Polymath, CoVenture, Compound, MHS Capital, Alhamragroup, Refactor Capital, National Financial Holdings, Sam Hodges, Jacob Gibson

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$155.5 Millions
DATE OF LAST FUNDING:
Sep 2018
SEED & PRIOR FUNDING:
$52.5 Millions
SEED CLOSED ON:
Aug 2016
FUNDING SERIES:
SERIES A
$103 Million Closed: Sep 2018
COMMENTS
SERIES A : An undisclosed strategic investment were raised by Polymath.
LISTED:
NO

LATEST RESEARCH