Draft:Aven

Aven is a California-based financial services company that offers asset-backed credit cards, starting with home equity. The company claims that customers can lower their interest rate by 50% in as fast as 15 minutes. As of July 2024, the company has served over 33,000 customers, has issued $1.5 billion in credit lines, and has saved customers over $100 million in interest payments since inception.

As of July 2024, Aven was valued at $1 billion. Investors in the company include Khosla Ventures, General Catalyst, Founders Fund, and Caffeinated Capital among others.

The company is supported by an Advisory board focused on helping the company scale while protecting the interests of its cardholders and offering insights on industry conditions and strategic opportunities. Members include Michael DeVito, former CEO of Freddie Mac; Tim Mayopoulos, former CEO of Fannie Mae; Jim Messina, former Deputy Chief of Staff to the White House under the Obama administration; and Kevin Warsh, former member of the Board of Governors of the Federal Reserve System.

The company was founded in 2019 by Sadi Khan, Murtada Shah, and Collin Wikman, former executives from Facebook and Square. Aven is headquartered in Campbell, California.