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About
Enova provides online financial services, focusing on accessible credit solutions for non-prime consumers and small businesses. Their platform uses machine learning to evaluate creditworthiness and manage risk, allowing them to offer tailored loans and credit options. Unlike traditional banks, which often reject individuals with lower credit scores, Enova fills this gap by providing fast and reliable financial products. They also partner with banks to enhance their credit offerings, broadening access to financial services. Enova's goal is to help hardworking people obtain trustworthy credit while promoting diversity and inclusion within their workforce.
Company Stage
IPO
Employees
1,001-5,000
Industries
Fintech, Financial Services
Total Funding
$400M
Headquarters
Chicago, Illinois
Founded
2004
Simplify's Take
What believers are saying
- Enova's machine learning platform enhances risk assessment with alternative data sources.
- Growing demand for small business loans in the gig economy boosts Enova's market.
- Increased digital banking adoption among non-prime consumers expands Enova's customer base.
What critics are saying
- Rising interest rates could increase borrowing costs, impacting Enova's profitability.
- Regulatory scrutiny on non-prime lending practices could lead to stricter compliance requirements.
- Economic downturns may lead to higher default rates among Enova's non-prime consumers.
What makes Enova unique
- Enova uses machine learning to assess creditworthiness, offering tailored financial products.
- The company collaborates with traditional banks to enhance their credit offerings.
- Enova serves non-prime consumers and small businesses underserved by traditional banks.
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6 month growth
↑ 1%1 year growth
↑ 4%2 year growth
↑ 21%Benefits
Advance your career - We have a dedicated training team focused on giving you the tools you need to succeed within your department, within the company and in your career. The focus starts day one with a robust onboarding program and continues throughout your career at Enova.
See the benefits - Full-time employees receive medical, dental and vision benefits; matching 401(k); PTO; commuter benefits; flexible spending accounts for health care and dependent daycare; and more!
Be recognized - There’s plenty of room for both lateral and upward movement here at Enova. We’re always interested in promoting from within, and we keep a lookout for top talent who are ready to advance.
Get your perks - Full-time employees can receive tuition reimbursement, one-month paid sabbatical after four years, discounted massages, manicures and other perks.
Give back - We work throughout the year to partner with local charities and assist our neighbors in need. We also offer a charitable match program — allowing team members to double their impact when they donate money to charity.
Have fun - We like challenges here; maybe that’s why we have so many games, competitions and outings. There are a number of ways you can scratch your competitive itch and have fun!
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