Canapi Ventures Led the Nova Credit $45M Series C Financing

October 17, 2023Client News

Gunderson Dettmer represented client Canapi Ventures in leading the $45 million Series C financing of Nova Credit, the data analytics company enabling businesses to grow responsibly by harnessing alternative credit data. Nova Credit serves as the bridge between data and credit excellence, providing a comprehensive suite of solutions designed to give lenders a competitive edge in the open finance era. The company will use the new capital to further broaden its product offering beyond cross-border credit reporting and scale Cash Atlas™, the industry’s leading solution for cash flow underwriting and verification of income and employment.

In the announcement of the transaction, Canapi Ventures general partner Jeffrey Reitman said, "The credit landscape is evolving quickly right before our eyes. Winning solutions must strike a delicate balance between credit data and regulatory expertise, rapid product agility, and uncompromising enterprise reliability. Over the last few years, Nova Credit has demonstrated time and time again its ability to transform complex credit data challenges into scalable industry solutions that are leveraged by financial partners to expand the aperture of customers they can serve. Nova has assembled the team, tech, and vision to usher in cash flow underwriting at scale. We could not be more excited to double down alongside this roster of investors in supporting Nova."

The Gunderson Dettmer deal team was led by Colman Lynch and included Katie Gardner, Saarah Woodby and Alexandra Ochalek.

Canapi Ventures
Nova Credit