Nova Credit

Unleashing Credit for Immigrants
May 30, 2018
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For many immigrants, moving to a new country can feel like a joyous new beginning. But when it comes to accessing their credit histories, immigrants literally start from scratch.

Nova Credit, building a cross-border consumer reporting agency

Misha Esipov, Nicky Goulimis and Loek Janssen of Nova Credit felt the pain of this fresh start first-hand. As graduate students at Stanford, the trio realized they shared a common problem with many of their international friends: the inability to access their credit histories from their home countries. Despite credit-worthiness, net worth or employment histories, their credit histories were essentially erased or inaccessible — making it challenging to accomplish the most fundamental tasks as they start their new lives. Without a credit history that is easily accessible and digestible to US-based businesses, individuals are excluded from thousands of rental units, given sub-optimal rates on auto loans and other financial products. They soon discovered that millions of immigrants across the world struggle to gain access to financial products when they move for a job or university.

We first met Nova Credit when they were still students at Stanford about to join Y Combinator in 2016. Since then, they’ve grown their footprint to cover credit histories of the majority of immigrants moving to the U.S. We’re proud to partner with Misha, Nicky, Loek and the entire Nova Credit team on their $16 million Series A financing to help immigrants across the world gain access to the financial services they deserve.

Silicon Valley and this country were built in part on the hard work of immigrants who moved in pursuit of the American dream. As an investment firm with many immigrants and dual citizens who’ve lived and worked across the globe, General Catalyst is proud to support the Nova mission to ensure that as people move in pursuit of opportunity, their credit history can follow them.

— Katherine Boyle & Team GC