Enabling Access to Credit for Immigrants, US-Based Fintech Firm Goes to Europe

Source: Tech.eu

San Francisco-founded Nova Credit is now expanding into Europe. Its first pitstop is the U.K. where it aims to make relocating between countries more frictionless for immigrants.

The cross-border credit bureau is on a mission to accelerate financial inclusion for millions of creditworthy individuals who immigrate to new countries every year. Upon arrival, these individuals are without any credit history that lenders in their destination country can evaluate. Subsequently, they struggle to access fairly-priced credit-based products like credit cards, car finance, or phone contracts and pay as much as six months’ rent upfront or find a guarantor to secure an apartment.