Accelerating our mission to save homeowners money

Our Mission

At Aven, our mission is clear: to cut the cost of consumer credit and help people be wealthier.

Today, we’re announcing a $110M Series E at a $2.2B valuation to accelerate this mission. We’re grateful to our investors at Khosla Ventures, General Catalyst, Founders Fund, GIC, Electric Capital, and others for believing in a future where homeowners — and eventually every American — can get credit for what they own.

Americans hold over $1 trillion in revolving credit card debt, paying over 20% APR on average — more than $200 billion in interest alone, not counting fees, every year.¹

Despite half a century of advances in technology, the cost of borrowing to regular consumers just hasn’t budged. We’re spearheading that change.
Our goal is to use technology to drive that cost down for our customers — by giving them credit for what they own.

What We’ve Achieved

Over $215 million in interest savings delivered
3x customer base growth year-over-year
More than $3 billion in aggregate credit lines issued

Behind these numbers are real families whose lives are made easier:

“I was able to get $16,000 for my project without touching my savings, and it gave me peace of mind knowing I had funds available when unexpected expenses came up. The renovation is now complete, and it makes me feel better knowing the credit line is still there if I ever need it.” — Michelle N., Colorado

“The process was seamless. From start to finish, the underwriting process to the immediate availability of funds was impressive. My family and I cannot be more thankful how stress-free Aven had made this, as our entire family is now able to enjoy a yard space for many years to come.” — Miron M., California

What’s Next

We’re laser focused on delivering the lowest-cost, most transparent access to capital at scale, powered by a machine banking platform designed for efficiency. We started with inventing the first successful HELOC-backed credit card. Now - we’re expanding into mortgage refinancing, with even more to follow. Our goal: to become a one-stop financial platform for American homeowners.

Aven is determined to drive the single largest reduction in cost of capital in American history.

Thank you for your support in our mission so far. It’s just the beginning of our journey to reshape how capital works for everyone.

If you’re a homeowner - get started with Aven today.

If you’re an engineer, designer, or highly technical builder - we’re hiring. Come join us.

Thanks,
-Sadi

References:

Source: WalletHub.