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Nova Credit secures $50M in Series B funding led by Kleiner Perkins

Misha Esipov Co-Founder & CEO at Nova Credit

California based cross-border credit reporting agency Nova Credit announced that it raised $50 million series B in equity financing led by Kleiner Perkins. The funding also saw major participation form Canapi Ventures and existing investors Index Ventures, General Catalyst and Nyca Partners. Sound Ventures with support from baseball legend Alex Rodriguez and U2 guitarist the Edge also participated in the round.

The company is planning to use the funding to expand its global reach and mission to support newcomers from around the world.

“The world has become increasingly globalized, with people moving around the world at an accelerating rate, yet credit history has been trapped within national borders. Nova Credit is changing that by enabling millions of newcomers who have hard-earned credit abroad to access financial services more equally in the U.S.,” said Misha Esipov, Nova Credit’s CEO.

He further added “Migration is an incredibly vulnerable period of transition and through the Credit Passport we’ve made that experience more safe and welcoming. Nova Credit believes in a world beyond borders to enable newcomers to arrive and thrive.”

Founded in 2016, the FinTech’s Passport technology translates foreign credit data into a U.S. equivalent score and reports in a familiar format to American underwriters. Its real-time data delivery enables financial institutions to instantly serve newcomers to the United States.

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