Aven

Aven is a fintech company offering a credit card backed by home equity, allowing homeowners to access lower-interest, revolving credit by using their property as collateral. It competes across the consumer credit and home equity lending markets, alongside traditional banks and fintech startups. As of July 2024, the company has issued over $1.5 billion in credit lines, has 33K cardholders, and has $100 million in annualized revenue. Aven has a large opportunity in expanding to new secured lending products such as auto-backed credit cards and mortgage refinancing, as well as enhancing the value of its existing credit card. But while Aven’s product structure enables lower rates than unsecured credit alternatives, the company faces key challenges in navigating regulatory oversight, housing market fluctuations, and credit performance at scale.