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Overview
Trovy provides a home equity-backed credit card that lets homeowners access their property value through a consumer lending product. The card offers lower interest rates than many traditional cards and includes built-in flexibility plus a cash-back rewards program on every purchase. Lending is facilitated by Trovy Lending Co. around New York, with a direct-to-consumer model and revenue from interest on carried balances and interchange fees. Compared with typical credit cards, Trovy centers on leveraging home equity to offer more favorable terms and a straightforward credit option for homeowners in the United States. The company’s goal is to give homeowners easier access to credit using the value tied up in their homes, through a specialized credit card product and supporting lending operations.
About Trovy
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series A
Total Funding
$25M
Headquarters
New York City, New York
Founded
2024
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Simplify's Take
What believers are saying
- Trovy raised $15 million on June 24, 2026, reaching $25 million total funding.
- The company is live in 27 states and hired across New York and Salt Lake City.
- No annual fee, instant virtual card access, and 2% cashback strengthen consumer appeal.
What critics are saying
- Trovy depends on Cross River Bank and Mastercard; partner friction can freeze growth.
- Thirty states are licensed, but only 27 are live; state-by-state expansion slows execution.
- Home-equity lending exposes Trovy to housing downturns and forced-sale losses in 2026.
What makes Trovy unique
- Trovy's June 2026 HELOC card turns home equity into Mastercard spending.
- Cross River Bank issues Trovy's card, adding regulated banking infrastructure and distribution.
- Trovy shows rates at 6.49%-14.64% APR, far below typical 22% credit cards.
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Funding
Total Funding
$25M
Above
Industry Average
Funded Over
2 Rounds
Kleiner PerkinsIndustry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Flexible Work Hours
Remote Work Options
Growth & Insights and Company News
6 month growth
↑ 35%1 year growth
↑ 35%2 year growth
↑ 35%Trovy, a US fintech, has closed a $15 million Series A led by Left Lane Capital to expand its home equity line of credit card. The company transforms home equity into a Mastercard that functions at mortgage rates rather than typical credit card rates above 20%. The Trovy HELOC Card, issued by Cross River Bank, allows homeowners to access equity at point of purchase without traditional draw processes. The fully online application uses automated valuation and verified income for quick approval. Customers receive 2% cashback on home purchases and 1% on other spending, with no annual or inactivity fees. The round brings total funding to $25 million, with participation from Kleiner Perkins, DCM Ventures and Camber Creek. The card is currently live in 27 states. Funds will support national expansion and development of a second product for home purchases and refinances.
Trovy, a New York City-based developer of a home equity-backed consumer fintech and lending platform, raised $15m in a Series A funding round, bringing its total financing to $25m
Trovy, a fintech offering credit cards backed by home equity, has raised $15 million in Series A funding, CEO TJ Milani told Axios. The company aims to provide consumers with cheaper alternatives to traditional credit cards and personal loans by making home equity a more flexible borrowing source.
The alleywatch startup daily funding report: 6/24/2026. The latest venture capital, seed, pre-seed, and angel deals for NYC startups for June 24, 2026 featuring funding details for Allium, Probook, Runlayer, Trovy, ODIN, and much more. This page will be updated throughout the day to reflect any new fundings. Allium - $40M. Allium, a blockchain data platform that standardizes and enriches on-chain activity from more than 150 chains for enterprise and institutional clients, has raised $40M in Series B funding led by Amplify Partners with participation from Kleiner Perkins and Theory Ventures. Founded by Ethan Chan, Cheng Han Lee, and Paul Chun in 2022, Allium has now raised a total of $61.5M in reported equity funding. YOUR BRAND. NYC TECH. AlleyWatch puts your message in front of the investors, operators, and entrepreneurs driving NY's innovation economy. Advertise today Probook - $34M. Probook, an AI operating system for home services businesses that automates dispatch, customer communications, and scheduling workflows, has raised $34M in Series A funding led by Andreessen Horowitz with participation from Sequoia Capital. Founded by George Eliadis, Ben Cervantez, and Lewis Zhang in 2024, Probook has now raised a total of $40M in reported equity funding. Runlayer - $30M. CYBERSECURITY Runlayer, an AI security and governance platform that provides enterprises with a centralized control layer for deploying and managing AI agents across their organizations, has raised $30M in Series A funding led by Felicis with participation from Khosla Ventures. Founded by Andrew Berman, Tal Peretz, and Vitor Balocco in 2025, Runlayer has now raised a total of $42M in reported equity funding. Trovy - $15M. Trovy, a fintech platform that provides card-based home equity line of credit products for homeowners, has raised $15M in Series A funding led by Left Lane Capital with participation from Kleiner Perkins, DCM Ventures, and Camber Creek. Founded by TJ Milani, Ashley Harris, and Wontaek Shin in 2024, Trovy has now raised a total of $25M in reported equity funding. ODIN - $3.25M. ENTERPRISE ODIN, a construction technology platform that provides cloud-based labor management software for onboarding workers, managing credentials, and controlling jobsite access, has raised $3.25M in funding according to a recent SEC filing. The filing indicates that the total offering is for $6.5M and there were two investors in this close. ODIN was founded by Douglas Carney, Dawn Williamson, and Mike Verderese in 2020.
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About Trovy
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series A
Total Funding
$25M
Headquarters
New York City, New York
Founded
2024
Trovy is Hiring for 9 Jobs on Simplify!
Find jobs on Simplify and start your career today