Nova Credit named to 2021 CB Insights Fintech 250 list

SAN FRANCISCO – (COMMERCIAL THREAD) – Nova Credit, the fintech unlocking opportunities for people historically excluded from the credit system and businesses seeking to serve them, today announced that CB Insights has named Nova Credit to the fourth annual Fintech 250, a prestigious list of emerging private companies working on breakthrough financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York.

More than one million immigrants arrive in the United States each year, according to the Pew Research Center, and it is predicted that immigration will cause 82% of new growth in the United States population by 2050. Yet the lack National credit history means that millions of recent arrivals only appear as no-file or thin-file when requesting financial services. For newcomers who cannot obtain financial services, such as access to credit cards or loans, their potential for success upon arrival is limited.

Nova Credit was founded to create a level playing field for immigrants so that they can begin their financial journey to the United States on an equal footing. FinTech does this by allowing newcomers to share their home country credit history with financial service providers, not only opening up new opportunities for immigrants to the United States, but also opening up a new segment. for credit card issuers and lenders. Real-time delivery of this trusted credit data enables credit card issuers, lenders, property managers, telecommunications companies and other service providers to instantly serve immigrants faster and more fairly. The company has also expanded its services to help people in the United States with insufficient credit histories to access credit services and financial support.

“When we started Nova Credit, I could not have imagined the positive impact we would have on the lives of newcomers to the United States in such a short time,” said Misha Esipov, co-founder and CEO of Nova Credit. “Our goal is to solve not only a financial services problem, but a societal problem that has long excluded millions of people from the traditional financial system in the United States. Greater financial access for newcomers makes the American Dream a little more accessible to millions. Thanks to CB Insights for the recognition and congratulations to the other Fintech 250 startups.

“It’s the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are tackling an incredibly diverse range of financial services opportunities across 19 industries including digital banking, insurance, payroll, retail investing and more, ”said Anand Sanwal, CEO from CB Insights. “After being named in the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 be acquired. They have also raised over $ 25 billion in additional funding and forged over 380 new partnerships after being recognized. The Fintech 250 has always put the spotlight on the best fintech companies, and this year is no different. We’re excited to see how these fintech startups are disrupting and transforming financial services in the years to come. ”

Using an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees. They were chosen based on several factors including company submitted data, company business models and market dynamics and Mosaic scores, CB Insights proprietary algorithm that measures overall health and growth potential. private companies.

About CB Insights

CB Insights creates software that empowers the world’s best companies to confidently discover, understand, and make technology decisions. By combining data, expert opinion and work management tools, clients manage their end-to-end technological decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.

About Nova Credit

Nova Credit opens up financial opportunities for people historically excluded from the credit system. With a bold vision to assemble the world’s credit data into a single network, Nova Credit began by meeting the financial needs of immigrants to the United States by enabling them to apply for financial services using their international credit histories in more than 15 countries around the world. The company has since grown to help those who do not have enough history to access credit services. Nova Credit’s real-time delivery of this reliable data enables credit card issuers, lenders, property managers, telecommunications companies and other service providers to instantly serve immigrants faster and more fairly. Based in San Francisco and built on a mission to propel a just and inclusive financial system for the world, the company was founded by immigrants and is backed by leading investors including Kleiner Perkins, General Catalyst and Sound Ventures. Learn more at www.novacredit.com.

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