SAN FRANCISCO, CA, Aven, the pioneer in home equity-backed credit cards, today announced a $110 million Series E financing at a $2.2 billion post-money valuation - more than double its valuation from a year ago.
The round was led by Khosla Ventures, with participation from existing investors General Catalyst, Caffeinated Capital, GIC, Electric Capital, and Founders Fund.
Founded in 2019, Aven has transformed access to low-cost capital by helping consumers unlock the value of their existing assets. It invented the first HELOC-backed credit card, giving homeowners credit for what they own and cutting their rates by up to 50%. Aven has since issued over $3 billion in credit lines and saved consumers over $215 million in interest.
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