Aven

Aven

Tech startup focusing on web solutions

About Aven

Simplify's Rating
Why Aven is rated
C
Rated D+ on Competitive Edge
Rated B on Growth Potential
Rated C on Rating Differentiation

Industries

Enterprise Software

Cybersecurity

Company Size

51-200

Company Stage

Series D

Total Funding

$138.1M

Headquarters

San Francisco, California

Founded

2019

Overview

Aven provides web-based solutions with a strong focus on security and data protection. The company utilizes JavaScript for its website functionality, indicating a modern approach to web development. Aven employs Cloudflare's challenge-platform, which enhances website security and protects against malicious traffic, showcasing its commitment to safeguarding user data. While specific details about its products, target clients, and revenue model are not available, Aven appears to operate in the tech industry, likely catering to businesses or individuals seeking secure online services. The company's goal is to deliver reliable web solutions while ensuring the highest level of security for its users.

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Simplify's Take

What believers are saying

  • Aven reached unicorn status with a $142 million Series D funding in July 2024.
  • The company has issued over $1.5 billion in credit lines since 2022.
  • Aven has saved customers over $100 million in interest payments to date.

What critics are saying

  • Aven faces a class action lawsuit over a July 2023 data breach.
  • Rising interest rates could reduce demand for Aven's HELOC Card.
  • Increased competition from similar fintech products could erode Aven's market share.

What makes Aven unique

  • Aven offers the world's first home equity-backed credit card.
  • The Aven HELOC Card combines credit card convenience with home equity benefits.
  • Aven's product provides lower interest rates than standard credit cards.

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Funding

Total Funding

$138.1M

Above

Industry Average

Funded Over

1 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$142M
Aven

Benefits

Company equity

Remote friendly

Medical, vision, & dental insurance

PTO

Parental leave

Aven Card

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
MamStartup
Jul 30th, 2024
Aven secures $142M in Series D

Title: "July 2024: Key Global Investments in the Fintech Sector" In July 2024, the fintech sector saw significant funding rounds. Aven, a US-based startup, raised $142 million in Series D, led by Khosla Ventures and General Catalyst, boosting its valuation to over $1 billion. MNT-Halan from Egypt secured $157.5 million, with $40 million from IFC and the rest from investors like DPI and Lorax Capital Partners. Other notable investments include $195 million for Ascend Money (Thailand) and $100 million for Matera (Brazil).

Crowdfund Insider
Jul 20th, 2024
Aven Announces $142M Series D To Bring Home Equity-backed Credit Card To Homeowners | Crowdfund Insider

Aven, a technology company offering consumer credit cards backed by home equity,  announced a $142 million series D round of funding.

FF News
Jul 18th, 2024
Aven Reaches Unicorn Status With $142 Million Series D Investment

A technology company offering consumer credit cards backed by home equity, Aven reaches unicorn status announcing a $142 million series D round of funding led by Khosla Ventures and General Catalyst, with participation from existing investors including Caffeinated Capital, Electric Capital, Founders Fund, and The General Partnership.Aven was founded in 2019 by Sadi Khan, Collin Wikman, and Murtada Shah, former product, design, and engineering executives at Facebook and Square. Aven is on a mission to provide consumers with the lowest cost and most convenient access to capital. Their first product – the Aven Home Card – allows homeowners to access their home equity in minutes, starting at $0 to get, with all the benefits of a traditional credit card. Since launching in California in 2022, the company has issued over $1.5 billion in credit lines for the Home Card, earning a 4.9 star rating on Trustpilot. The company has saved customers over $100 million in interest payments to date.“We believe there’s no reason for anyone who owns an asset and has good credit history to use unsecured credit. Full stop

Fintech Futures
Jul 18th, 2024
US fintech Aven's valuation tops $1bn with latest $142m Series D capital raise - FinTech Futures: Fintech news

A new $142 million Series D investment has elevated Aven, a credit solutions start-up based in San Francisco, to unicorn status.

Morningstar
Jul 17th, 2024
Aven Reaches Unicorn Status with $142 Million Series D Investment to Bring the World's First Home Equity-backed Credit Card to Homeowners in All 50 States

Aven, a technology company offering consumer credit cards backed by home equity, today announced a $142 million series D round of funding led by Khosla Ventures and General Catalyst, with participation from existing investors including Caffeinated Capital, Electric Capital, Founders Fund, and The General Partnership.

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