Nova Credit Raises $35M Series D to Accelerate Cash Flow Underwriting Revolution

Socium Ventures led the funding round expected to drive expansion of the industry-leading Nova Credit Platform as demand for real-time financial data and analytics surges

NEW YORK--(BUSINESS WIRE)--Nova Credit, a leading credit infrastructure and analytics company, today announced it raised $35 million in Series D funding led by Socium Ventures, a venture firm backed by Cox Enterprises, to accelerate the growth of the Nova Credit Platform.

The funding arrives as cash flow underwriting reaches an inflection point, with lenders, property managers, and financial service providers increasingly recognizing that traditional credit bureau data alone provides an incomplete and therefore inaccurate picture of a consumer’s financial health. Cash flow underwriting offers a more granular, real-time view of financial behavior, enabling businesses to responsibly accelerate growth.

Nova Credit recently announced that Chase, PayPal, and Yardi will deploy Cash Atlas™, Nova Credit’s cash flow underwriting solution, across their lending and tenant screening operations, exemplifying the growing industry shift toward comprehensive financial data analytics that go beyond traditional credit scoring.

"We're in the middle of a transformation in how financial institutions and rental housing operators enable credit decisioning," said Misha Esipov, Co-founder and CEO of Nova Credit. "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."

Since its 2023 Series C raise, Nova Credit has demonstrated significant momentum across multiple verticals. The company has deepened partnerships with leading financial institutions including MoneyLion, Imprint, and SoFi, while expanding into property management through integrations with major platforms including Yardi, AppFolio, MRI Software, and Entrata. The company's multi-aggregator approach and superior data coverage have consistently won head-to-head evaluations against incumbent providers.

"At Socium Ventures, we invest in bold ideas, and Nova Credit has fundamentally reimagined how financial data can drive inclusive growth,” said Andrew Davis, managing partner at Socium Ventures. “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."

This past year, Nova Credit also strengthened its board with the addition of two industry veterans. Gene Ludwig, former Comptroller of the Currency and managing partner of Canapi Ventures, recently joined alongside Nichole Mustard, co-founder and former Chief Revenue Officer of Credit Karma. These appointments underscore the company's commitment to navigating the evolving regulatory landscape while scaling proven consumer credit and housing solutions.

The Series D round was led by Socium Ventures with participation from existing investors Canapi Ventures, Kleiner Perkins, General Catalyst, Index Ventures, Y Combinator, NAVentures, National Bank of Canada’s corporate venture capital arm, Harmonic Growth Partners, Radiate Capital, and Gaingels.

About Nova Credit

Nova Credit is a credit infrastructure and analytics company that enables businesses to grow responsibly by harnessing alternative credit data. As a Consumer Reporting Agency (CRA), Nova Credit leverages its unique data infrastructure, compliance framework, and credit expertise to help lenders fill critical gaps in traditional credit analytics. The company transforms the fragmented universe of consumer financial data into compliant, actionable risk insights through a comprehensive platform designed to increase conversion through expanded coverage, speed, and reliability. Leading organizations, including HSBC, SoFi, Scotiabank, AppFolio, and Yardi, work with Nova Credit to make smarter credit decisions through cash flow underwriting with Cash Atlas™, quickly verify income with Income Navigator, and reach new-to-country consumers with Credit Passport^®. Learn more at www.novacredit.com.