Nova Credit, a leading credit infrastructure and analytics company, announced that it has raised $35 million in Series D funding led by Socium Ventures, a venture firm backed by Cox Enterprises. The funding will be used to accelerate the growth of the Nova Credit Platform, which enables financial institutions and property managers to leverage cash flow underwriting for more accurate credit decisioning.
The funding comes at a time when cash flow underwriting—an approach that evaluates a consumer’s financial behavior through real-time income and spending data—is gaining widespread adoption. Traditional credit bureau data alone often fails to capture the full scope of a consumer’s financial health, leaving gaps in risk assessment and lending opportunities. By incorporating real-time cash flow data, Nova Credit aims to provide lenders, landlords, and financial service providers with a more complete and dynamic picture of consumers’ creditworthiness.
Major institutions are already deploying Nova Credit’s cash flow underwriting solution, Cash Atlas™, to enhance decision-making across multiple operations. Chase, PayPal, and Yardi have begun integrating the platform into their lending and tenant screening processes, reflecting a growing industry shift toward data-rich, inclusive financial evaluation.
Since its Series C round in 2023, Nova Credit has built significant momentum, expanding its partnerships with leading financial institutions such as MoneyLion, Imprint, and SoFi. It has also extended its reach into property management through integrations with Yardi, AppFolio, MRI Software, and Entrata. Nova Credit’s multi-aggregator model and strong data coverage have earned it a competitive edge in direct evaluations against incumbent credit data providers.
The company’s platform operates as a Consumer Reporting Agency (CRA), ensuring full compliance with the Fair Credit Reporting Act (FCRA) while enabling lenders to adopt new forms of data-driven underwriting responsibly. With this latest round of funding, Nova Credit plans to continue building the infrastructure and analytics capabilities that make real-time financial data as reliable and accessible as traditional credit reporting.
In addition to the new funding, Nova Credit has strengthened its leadership and governance. Two prominent financial industry veterans—Gene Ludwig, former Comptroller of the Currency and Managing Partner of Canapi Ventures, and Nichole Mustard, Co-founder and former Chief Revenue Officer of Credit Karma—recently joined the company’s board of directors. Their expertise is expected to help Nova Credit navigate evolving regulatory environments and scale its suite of credit and housing solutions globally.
The Series D round included participation from existing investors Canapi Ventures, Kleiner Perkins, General Catalyst, Index Ventures, Y Combinator, NAVentures (the venture capital arm of National Bank of Canada), Harmonic Growth Partners, Radiate Capital, and Gaingels. The investment underscores growing confidence in Nova Credit’s vision to modernize financial inclusion and credit accessibility.
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 of 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 at Socium Ventures
