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§ Private Profile · 4521 Pga Blvd Ste 226, Palm Beach Gardens, Florida, 33418, United States
NBFC providing loans and financial products for MSMEs and unserved segments, helping urban and rural poor grow businesses.
Based in Jaipur, Rajasthan, India, Finova Financial is a non-banking financial company that provides working capital, machinery, and business loans to micro, small, and medium enterprises. The firm focuses on delivering tailored credit products to unorganized and underserved market segments, specifically targeting urban and rural populations operating across 16 Indian states. Operating through an extensive network of over 400 regional branches, the institution maintains a corporate workforce of 151 to 250 employees to manage its lending operations and growing loan portfolio. Finova Financial has secured significant capital to scale its enterprise lending model, highlighted by a $65 million funding round in March 2022 backed by prominent institutional investors such as Peak XV Partners, Norwest Venture Partners, Faering Capital, and Sofina Ventures. The organization was founded in 2015 by Mohit Sahney and Sunita Sahney.
Finova Financial has raised $308.0M across 4 funding rounds.
Finova Financial has raised $308.0M in total across 4 funding rounds.
Finova Financial has raised $308.0M in total across 4 funding rounds.
Finova Financial's investors include Ali Hamed, Crossbeam Venture Partners, Jacob Gibson, 500 Startups, Al Hamra Group, Metamorphic Ventures, MHS Capital, David Lee, Sam Hodges, 8VC, Animo Ventures, Bessemer Venture Partners.
Finova Financial, operating as Finova (finova.tech), is a UK-based technology company providing modular, SaaS-based software for lending, savings, and mortgage sectors. It builds cloud-native platforms like its flagship Lending product (including MSO for residential originations and formerly Apprivo for whole-market solutions), Savings, Servicing, Decisioning, Intermediary Manager, and Broker CRM, serving banks, building societies, specialist lenders, equity release providers, and over 550 brokerages.[1][2][3] These tools automate processes, enable instant product launches, and manage full customer lifecycles, solving inefficiencies in complex UK markets by reducing application-to-offer times by up to 54%, handling over £500 billion in originations and £47.5 billion under management for 60+ clients, with clients achieving 35-40% growth without headcount increases.[1][2]
Finova traces its roots to 1996, evolving through UK lending sector turbulence like policy changes, economic shocks, and regulatory shifts.[2] It has grown into a comprehensive provider of digital-first, cloud-based technologies, consolidating products like MSO—the most broker-recommended mortgage software with 96.8% client satisfaction—and expanding to serve 60+ lenders and 550+ brokerages, powering £50 billion in annual loans and savings.[1][2][3] Key milestones include handling massive scale (£500B+ originations) and positioning as the largest provider in UK mortgage and savings tech, with roots in simplifying operations amid spiraling property prices and market complexity.[2][5]
Finova rides the digitization wave in UK financial services, addressing a complex mortgages and savings market fragmented by regulation, economic volatility, and specialist needs like Islamic finance or equity release.[2][3] Timing aligns with post-pandemic demand for cloud automation amid rising property prices and broker-lender integration needs, where legacy systems falter.[1][2] Market forces favoring it include SaaS adoption for efficiency (e.g., no-headcount growth) and open APIs bridging intermediaries, influencing the ecosystem by powering £50B+ annual volumes, standardizing processes via finova Connect, and enabling smaller players to compete with top lenders like Leeds Building Society.[1][2][3] As the largest provider, it shapes broker efficiency and lender scalability in a £500B+ origination market.[5]
Finova is poised for continued dominance in UK lending tech, leveraging its scale and modularity to capture share in growing specialist segments like buy-to-let and savings amid interest rate shifts. Trends like AI-driven decisioning, embedded finance, and regulatory pushes for open banking will amplify its API strengths, potentially driving international expansion or deeper integrations. Its influence may evolve from core infrastructure to ecosystem orchestrator, solidifying its role as the go-to partner as digital transformation accelerates—building on three decades of resilience to power the next era of smarter, faster financial growth.[1][2][3]
Finova Financial has raised $308.0M across 4 funding rounds. Most recently, it raised $102.5M Other Equity in October 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 18, 2017 | $102.5M Venture Round | ALI Hamed | — | Announced |
| Oct 1, 2017 | $100M Series U | — | Crossbeam Venture Partners | Announced |
| Aug 10, 2016 | $52.5M Venture Round | Jacob Gibson, 500 Startups, AL Hamra Group, Metamorphic Ventures, MHS Capital, David LEE | SAM Hodges | Announced |
| Aug 1, 2016 | $53M Series U | — | 8VC, Animo Ventures, Bessemer Venture Partners, Better Tomorrow Ventures, Catapult Capital, Citi Ventures, Fifth Wall, Flex Capital, Footwork, Geek Ventures, Ribbit Capital, Scrum Ventures, Summit Partners, Teamworthy Ventures, Vista Venture Partners, Vouch Insurance, Y Combinator, Adrian Aoun, Charlie Songhurst, Ellen PAO, JAN Deepen, JOE Greenstein, Joshua Schachter, Stefan Jeschonnek, ZAC Zeitlin | Announced |