Nova Credit recognized as one of the best fintech startups for its achievements in credit score and analysis
SAN FRANCISCO, October 06, 2021– (COMMERCIAL THREAD) –Nova Credit, fintech unlocking opportunities for people historically excluded from the credit system and businesses seeking to serve them, today announced that CB Insights appointed Nova Credit to the fourth Fintech 250, a prestigious list of emerging private companies working on breakthrough financial technologies. This year’s list was unveiled on stage at CB Insights’ The 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 drive 82% of the new US population growth by 2050. Yet the lack of 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.
âWhen we started Nova Credit, I couldn’t have imagined the positive impact we would have on the lives of newcomers to the United States in such a short time,â said Misha Esipov, co-founder and CEO of Nova Credit. âOur 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 to newcomers makes the American dream a little bit more accessible to millions of people. Thank you to CB Insights for the recognition and congratulations to the other Fintech 250 startups. “
“This is 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 of CB Insights.” After being named in the CB Insights Fintech 250 last year, the 2020 cohort has seen 17 companies go public and 25 acquired. They have also raised more than $ 25 billion in additional financing and forged more than 380 new partnerships after being recognized. Fintech 250 is used to spotlighting 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 the overall health and growth potential of private businesses.
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 advice and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. For more information, 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 about www.novacredit.com.
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V2 Communications on behalf of Nova CrÃ©dit