Nova Credit, a FinTech that specializes in international credit inclusion, has recently gotten into the European markets with its upcoming launch in the United Kingdom. The platform, which uses credit risk assessment technology provides lenders with a scoring alternative that can deem an immigrant suitable for a credit line. In addition to their success in the European markets, the U.K. arm will be one of 20 partnerships across multiple nations.
According to research, more than 30% of immigrants across the United States lack access to traditional credit histories. Led by founders Misha Esipov and Nicky Goulimis, the San Francisco company has an estimated valuation of nearly $500 million according to PrivCo. Their international division, formally known as Nova Credit International VP, directed by Collin Galster, states that the service intends to place the dream of owning a car or purchasing a home after relocation within their reach. Recent efforts over the past six years have given financial institutions a first hand look at over 2 billion credit profiles. As the company has had massive growth, many high profile card issues such as American Express have begun to take notice with plans to offer product lines for customers from South America, Africa, and the Caribbean.
