Finova Financial
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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:
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
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FOUNDING YEAR:
LOCATION:
Views:
$155 M
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.
Finova Financial
About
Momentum
FUNDED
NO
LISTED
NO
Other