FinTech News
Home Equity FinTech Trovy Raises $15 Million
A FinTech offering a home equity-backed credit card has announced a new round of venture funding.
About Trovy and Its Funding Round:
This week, Trovy revealed that it had raised $15 million. The Series A was led by Left Lane Capital, with returning seed investors Kleiner Perkins, DCM Ventures, and Camber Creek also participating. With this round, Trovy’s total funding to date now sits at $25 million. According to the company, this investment will help accelerate its expansion and allow it to grow its team. Moreover, it intends to “deepen its product platform.”
Trovy’s flagship product is a home equity-backed card, allowing owners to quickly access capital at a low cost. According to the company’s site, customers can apply and gain access to up to $250,000 in equity within as few as four days. Additionally, variable APRs start at 5.99%.
Beyond that, Trovy is working to bring its second product to market: 1Loan. This home equity line of credit (HELOC) option is “purpose-built for home purchases and refinances.” These 1Loan funds can be used for home improvements, debt consolidation, or other homeowner needs. The product is expected to launch this summer.
Currently, Trovy is available in 27 states and has been licensed in 30. Its first product debuted in June 2025. The company also partners with Cross River Bank to issue the Trovy Card, which can be used anywhere Mastercard is accepted.
What They’re Saying:
Explaining the inspiration behind Troby, co-founder and CEO TJ Milani said, “As a homeowner, you’ve spent years building equity and you deserve a better way to put it to work. Trovy gives you the low interest rates of a home equity line of credit with the everyday flexibility of a credit card, unlocking smarter financing that works the way your life actually does.”
Meanwhile, Left Lane Capital partner Henry Toole said of the company, “TJ and Ashley [Harris, co-founder and COO] have built something rare, and they have the backgrounds to match. The team has a wealth of FinTech experience from Figure, SoFi, and JPMorgan.” Toole added, “Home equity is one of the largest and most underutilized categories in consumer finance, and we believe Trovy is building the definitive modern platform for it. We’re proud to lead this round as they scale.”
My Thoughts:
As a homeowner myself, I have started to think about HELOCs as a way to finance some bigger projects around the house. And if we were going to do that, something like the Trovy Card does certainly sound of interest. Given that experience, I can imagine what investors see in the company.
With Trovy already making a lot of progress in just over a year since launching, with these new funds I have no doubt that they’ll continue to expand quickly. On that note, since Missouri is not currently on the list of 27 states where Trovy operates, I guess I’ll need to wait as well.
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