Finova Financial

lending | other lending

Follow Send a private message

70 VISITORS | 147 VIEWS

FOUNDING YEAR: 2016

LOCATION:

United States

REGION:

Florida

Last Update:
9 Sep, 2019

Description

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, 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:

LATEST RESEARCH

DOWNLOAD