Nova Credit, a leading credit infrastructure and analytics company, has raised $35 million in a Series D funding round led by Socium Ventures, a VC firm backed by Cox Enterprises. The Series D round included participation from a high-profile group of existing investors, including Canapi Ventures, Kleiner Perkins, General Catalyst, Index Ventures, Y Combinator, NAVentures (the corporate venture capital arm of National Bank of Canada), Harmonic Growth Partners, Radiate Capital, and Gaingels.
The new funding will fuel the expansion of the Nova Credit Platform, which enables real-time financial data analysis and cash flow underwriting for financial institutions, property managers, and service providers.
The funding comes as the financial industry reaches a pivotal moment in the evolution of underwriting practices. Traditional credit bureau data, which has long been used to assess creditworthiness, is increasingly seen as insufficient for accurately capturing a consumer’s financial health. Cash flow underwriting, by contrast, delivers a more dynamic and comprehensive view of financial behavior, allowing for more responsible and inclusive decision-making across credit and rental markets.
Nova Credit’s flagship solution, Cash Atlas, exemplifies this shift in credit analytics. The platform is being deployed by major institutions, including Chase, PayPal, and Yardi, to strengthen lending and tenant screening operations. By enabling real-time insight into consumers’ financial behavior, Cash Atlas represents the next generation of underwriting tools that go beyond traditional credit scoring systems.
The company has seen rapid growth since its Series C raise in 2023. Nova Credit has expanded its partnerships with financial institutions such as MoneyLion, Imprint, and SoFi. And the company has broadened its reach in the property management space through integrations with major platforms, including AppFolio, MRI Software, Entrata, and Yardi. Its multi-aggregator data approach and superior coverage have helped it outperform traditional data providers in head-to-head evaluations.
Socium Ventures’ investment reflects growing recognition of Nova Credit’s market leadership and potential to redefine credit infrastructure. The firm praised Nova Credit’s approach to using alternative financial data to make credit systems more equitable and transparent.
In addition to the funding milestone, Nova Credit recently strengthened its governance and strategic capabilities with two significant board appointments: Gene Ludwig, former Comptroller of the Currency and Managing Partner at Canapi Ventures, and Nichole Mustard, co-founder and former Chief Revenue Officer of Credit Karma. These additions underscore the company’s focus on regulatory leadership and scaling responsible credit innovation.
Nova Credit’s expansion aligns with the broader shift toward using alternative and real-time financial data to enhance inclusivity and accuracy in credit decisions. As a Consumer Reporting Agency (CRA), the company’s infrastructure and compliance framework ensure that lenders can access actionable, FCRA-compliant risk insights with the same reliability and transparency as traditional credit data.
The new funding will accelerate the continued buildout of Nova Credit’s platform and analytics suite, support commercial partnerships, and expand product capabilities to serve a wider range of financial institutions and property managers globally.
KEY QUOTES:
“We’re in the middle of a transformation in how financial institutions and rental housing operators enable credit decisioning. Traditional credit bureau data fundamentally misses so much about a consumer’s financial health that it is proving insufficient for today’s dynamic market. Cash flow underwriting provides the clarity lenders and property managers need to grow responsibly while serving consumers who’ve been historically misunderstood by legacy systems. This Series D enables us to further accelerate our build out of the Nova Credit Platform—comprehensive infrastructure, analytics, and FCRA compliance that makes real-time financial data as accessible and reliable as traditional credit data.”
Misha Esipov, Co-founder and CEO, Nova Credit
“At Socium Ventures, we invest in bold ideas, and Nova Credit has fundamentally reimagined how financial data can drive inclusive growth. Nova Credit’s unique position as a Consumer Reporting Agency with deep alternative data expertise has created an unparalleled platform for cash flow underwriting. They are perfectly positioned to lead this market transformation, and we’re thrilled to support the mission of creating a more fair and inclusive financial system that benefits consumers and businesses.”
Andrew Davis, Managing Partner, Socium Ventures
