WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Finova Financial, the industry’s first cloud-based platform for affordable consumer emergency lending, has been named to the Fintech 100 list of the world’s leading financial technology innovators for 2016. Fintech 100 is a collaborative effort between H2 Ventures and KPMG.
“The financial services industry is facing a wave of digital disruption that is starting to reshape the sector,” says Melissa Hurwitz of H2 Ventures. “The Fintech 100 celebrates the top companies in this bold new space: the 50 leading established players creating change within financial services, and 50 of the emerging fintech stars of tomorrow, offering an in-depth view of the most exciting startups and organizations taking advantage of technology to revolutionize the industry.”
The Fintech 100 list is the result of a global search and includes 35 companies from the Americas, 28 companies from EMEA, 13 companies from the UK, 14 companies from Asia and 10 companies from Australia and New Zealand. The full list has just been made public and is available at www.fintechinnovators.com. Additional images here.
“Finova Financial was launched to help consumers get critically needed cash without the traditional barriers of high interest rates, inconvenient application processes and restrictive payment terms of the traditional emergency loan industry,” said Finova Financial CEO Gregory Keough. “We’re harnessing technology to help the 70 million underserved Americans get out of the debt traps created by traditional emergency loans, which cost them $138 billion per year in fees and interest.”
Currently available in Florida, Tennessee and Arizona, Finova’s Car Equity Line of Credit (C-LOC) has already earned Consumer Affairs prestigious partner accreditation for delivering up to 70% lower cost title loans to consumers, instant online pre-qualification, and payment-against-principal with every payment.
The C-LOC loan solution is the first in a series of digital financial services products Finova Financial is planning to offer in response to the needs of consumers outside the formal financial system.
About Finova Financial
Finova Financial is transforming the FinTech industry as a socially responsible online lender, providing fast, affordable emergency loans based on the equity in your car. Founded in 2015 by a team of financial services, technology and payment experts, Finova delivers a path to financial well-being and fair lending for the 70 million financially underserved Americans that spend $138 billion in fees and interest annually on alternative financial products. Finova’s Car Equity Line of Credit (C-LOC) costs up to 70% less than the current national average, provides around-the-clock access to capital, and a 12-month payback plan. Finova Financial backers include Silicon Valley investors MHS Capital, Refactor Capital, CoVenture, Compound, and 500 StartUps; Al Hamra Group, a private company owned by United Arab Emirates’ ruling family, Ras Al Khaimah; and others. For more information: www.finovafinancial.com