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ICME Alumnus Loek Janssen's company named to 2019 Fintech 50

Feb 5 2019

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Announcements, Awards, In the News, Students

Fintech 50 2019: The Newcomers 

 

Some of the private fintech companies on this year’s Fintech 50 list have grown so large they rival public companies. Stripe is now worth $22.5 billion and Credit Karma, $4 billion. But the industry keeps attracting new entrepreneurs and novel ideas—there are 20 companies on our fourth edition of the Fintech 50 that have never appeared on our list. 

That includes businesses like Nova Credit, which standardizes information from credit reporting bureaus in India, Mexico and other countries so that U.S. lenders and landlords can serve immigrants who lack a U.S. credit record. Roofstock makes it easier to invest in single-family rental homes. Chime, a mobile-first “neobank,” offers no-fee checking accounts. Cross River, a bank that has become a top fintech partner, handles payments and deposits for Stripe and Coinbase. And the payments category is booming, with companies making big technological advances in credit card processing, corporate credit cards and point-of-sale card readers making our list.

 

Nova Credit, San Francisco

Integrates and standardizes information from credit reporting bureaus in India, Mexico, the U.K., Canada and other countries so that U.S. lenders and landlords can serve immigrants who lack a U.S. credit record. In addition to reporting their foreign payment history, Nova creates a “Credit Passport” number for newcomers similar to a FICO credit score.

Funding: $20 million from General Catalyst, Index Ventures and First Round

Bona fides: Recently partnered with Yardi, a major property management software platform, to help screen immigrants applying for housing.

Cofounders: CEO Misha Esipov, 30; COO Nicky Goulimis, 30; and CTO Loek Janssen, 29 conceived Nova as a graduate class project at Stanford.

 

https://www.forbes.com/sites/jeffkauflin/2019/02/04/fintech-50-2019-the-newcomers/amp/