Khosla Ventures and General Catalyst led a $142 million Series D funding round for Aven, a technology company that is redefining consumer credit cards by leveraging home equity. Caffeinated Capital, Electric Capital, Founders Fund, and The General Partnership were among the existing investors who participated in the round. Aven, which was established in 2019 by former executives from Square and Facebook, is dedicated to offering households the most cost-effective and convenient access to capital. Its flagship product, the Aven Home Card, allows users to access home equity within minutes, offering benefits such as no annual fees, low APR rates starting at 7.99%, and substantial cashback rewards. Since its 2022 launch in California, Aven has issued over $1.5 billion in credit lines and saved customers more than $100 million in interest payments.
The recent investment will support Aven’s goal to offer the Home Card nationwide and expand its offerings to include auto-backed cards and mortgage refinance options. Khosla Ventures and General Catalyst's involvement underscores confidence in Aven’s ability to reduce the cost of capital for homeowners using alternative credit cards. Aven has also announced an advisory board comprising industry veterans such as Michael DeVito and Tim Mayopoulos to guide its strategic growth. Currently operating in 32 states, Aven plans to reach all 50 states by 2025, continuing its mission to provide smart homeowners with the most cost-effective and flexible credit solutions.
