Nova Credit

Nova Credit is a credit infrastructure and analytics company that enables businesses to grow responsibly by harnessing alternative credit data. The company leverages its unique set of data sources, bank-grade infrastructure and compliance framework, and proprietary credit expertise to help lenders fill the gaps that exist in traditional credit analytics. Nova Credit operates as a consumer reporting agency under the Fair Credit Reporting Act (FCRA) in the US

Nova Credit gathers consumer-permissioned data through integrations with international credit bureaus and domestic checking and savings account data aggregators. Its clients can approve, decline, and send adverse action notices, while Nova Credit manages disputes. The company provides cash flow underwriting, cross-border credit, and income verification solutions to lenders across various industries, including finance, fintech, property management, telecom, and automotive.

Nova Credit's flagship product, Credit Passport, enables lenders to access international credit data and assess the creditworthiness of newcomers to the US Its Cash Atlas product is a cash flow underwriting solution that transforms bank transaction data into a FCRA consumer report, allowing lenders to make informed lending decisions for consumers with limited credit history. The Income Navigator product provides automated income verification.

Nova Credit's platform combines robust infrastructure for multi-source data onboarding and orchestration, embedded analytics for decisioning and verification workflows, end-to-end compliance expertise, and flexible deployment options. As of March 2024, the platform is used by leading companies such as American Express, HSBC, Scotiabank, Verizon, SoFi, and Yardi. The company was founded in 2017 and has raised USD 45 million in Series C funding from investors like Kleiner Perkins, General Catalyst, Index Ventures, and Canapi Ventures.

Key customers and partnerships

Nova Credit partners with major financial institutions and lenders, including American Express, HSBC, Scotiabank, Verizon, SoFi, and Yardi. The company has established data partnerships with credit bureaus in over 20 countries, enabling it to offer its services in five countries as of 2023. Nova Credit has also partnered with companies like Strands and CRIF to enhance its product offerings and expand its reach.