At the moment, immigrants drive 55% of U.S. inhabitants development, a determine that’s projected to develop to 80% by 2050. Nova Credit score is constructing the way forward for international funds by enabling these newcomers to share worldwide credit score historical past from 11 nations together with Australia, Canada, India, Mexico and the United Kingdom with banks, lenders and telecommunications corporations.
By its Credit score Passport® know-how, Nova Credit score interprets overseas credit score knowledge right into a U.S.-equivalent rating and report in a format acquainted to American underwriters. Nova Credit score’s real-time supply of this knowledge allows monetary establishments to immediately serve newcomers to the US sooner and extra pretty. Newcomers who apply for credit score merchandise powered by Nova Credit score know-how are in a position to get authorized for merchandise equivalent to bank cards and loans, immediately.
“The world has develop into more and more globalized, with folks transferring around the globe at an accelerating fee, but credit score historical past has been trapped inside nationwide borders. Nova Credit score is altering that by enabling hundreds of thousands of newcomers who’ve hard-earned credit score overseas to entry monetary providers extra equally within the U.S.,” stated Misha Esipov, Nova Credit score’s CEO. “Migration is an extremely weak interval of transition and thru the Credit score Passport® we have made that have extra protected and welcoming. Nova Credit score believes in a world past borders to allow newcomers to reach and thrive.”
Ilya Fushman, Associate at Kleiner Perkins, stated: “Credit score is key to financial success, however as we speak’s techniques and infrastructure haven’t stored up with an more and more cell world. Nova Credit score is democratizing entry to credit score globally and we’re delighted to steer the Sequence B.”
Gene Ludwig, Managing Associate of Canapi Ventures, stated: “We’re thrilled to take part in Nova Credit score’s Sequence B spherical. In a aggressive monetary providers trade with shifting demographics, growing a method to draw the rising newcomer phase has develop into a strategic necessity for banks to defend and develop market share. Nova Credit score stands out as the one enduring answer to monetary entry for the hundreds of thousands of newcomers who come to the U.S. every year. They’ve assembled an distinctive, mission-driven staff that has what it takes to convey systemic change to life.”
About Nova Credit score
Nova Credit score is the premier cross-border credit score reporting company. The dearth of a home credit score historical past retains hundreds of thousands of immigrants in the US from realizing their goals. The award-winning fintech helps newcomers to the U.S. apply for monetary providers utilizing their worldwide credit score historical past from nations together with Australia, Brazil, Canada, India, Mexico, Nigeria, South Korea, and the United Kingdom. Nova Credit score interprets worldwide credit score knowledge right into a U.S.-equivalent rating and report in a format acquainted to pick out American underwriters, who use it to guage purposes for credit score merchandise. Based by immigrants, the agency has a various staff from across the globe who’re making a world past borders to assist newcomers arrive and thrive. Study extra at www.novacredit.com.
SOURCE Nova Credit score