Nova Credit, a NYC- and San Francisco, CA-based based cross-border consumer credit reporting startup, raised $50m in equity financing.
The round was led by Kleiner Perkins with participation from Canapi Ventures, Sound Ventures, with support from baseball legend Alex Rodriguez and U2 guitarist the Edge, and existing investors Index Ventures, General Catalyst and Nyca Partners.
The company intends to use the funds to expand its global reach.
Led by Misha Esipov, CEO, Nova Credit is a cross-border credit reporting agency which enables immigrants in the United States to apply for financial services using their international credit history from countries including Australia, Brazil, Canada, India, Mexico, Nigeria, South Korea, and the United Kingdom. The system translates international credit data into a U.S.-equivalent score (through its Credit Passport® technology) and report in a format familiar to select American underwriters, who use it to evaluate applications for credit products.