Khosla Ventures Leads $142M Series D Financing of Aven

Gunderson Dettmer represented client Khosla Ventures in leading the $142 million Series D financing of Aven, a technology company offering consumer credit cards backed by home equity. With a mission to provide consumers with the lowest cost and most convenient access to capital, 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. Aven will use the new capital to offer Aven’s Home Card in all 50 states, scale Advisor, and expand into new categories including auto-backed cards, mortgage refinance, and more.

In the announcement of the transaction, Khosla Ventures founder Vinod Khosla said, "By using technology to drive efficiency, Aven has built a product that responsibly helps drive down the cost of capital by over 50% for most US homeowners who are using alternative credit cards."

The Gunderson Dettmer deal team was led by Greg Volkmar and included Michael Weil and Brian Wohlhieter. 

Companies
Khosla Ventures
Aven