Trovy, a US consumer FinTech replacing high-cost consumer debt with home equity-backed financing, has announced it has closed a $15m Series A, bringing its total capital raised to $25m.
The Series A was led by Left Lane Capital, with existing seed investors Kleiner Perkins, DCM Ventures, and Camber Creek all returning to participate in the round. The proceeds are earmarked to drive Trovy’s nationwide expansion, deepen its product capabilities, and scale the team behind what the company describes as the definitive financial home base for America’s 85 million homeowners.
The funding arrives against a backdrop of record household debt in the United States, where non-mortgage consumer debt has climbed past $5tn, costing Americans an estimated $550bn in interest payments each year, with many borrowers carrying balances at annual percentage rates exceeding 20%. Trovy’s argument is that homeowners sitting atop trillions of dollars in untapped equity are paying far more to borrow than they need to, and that a smarter financing route is already within reach.
Trovy operates as a licensed consumer lender, which gives it direct ownership of its product, underwriting processes, and overall borrower experience rather than relying on bank partnership arrangements common to many FinTech platforms. Its flagship offering is a home equity-backed credit card that grants homeowners flexible, on-demand access to low-cost capital usable anywhere, positioning it as a direct alternative to high-rate credit cards, personal loans, and fragmented specialty financing products. The card itself is issued by Cross River Bank under a Mastercard licence. The company is also preparing to launch its second product this summer: the 1Loan, a home equity line of credit designed specifically for home purchases and refinancing, providing borrowers with ongoing flexible access to equity for a range of subsequent needs including improvements and debt consolidation.
Beyond the financing products, Trovy is developing what it calls a homeowner hub, a home management platform incorporating maintenance reminders, expert guidance, document storage for warranties, insurance policies, and home records, alongside a rewards programme centred on typical homeowner expenditure. Less than 18 months from founding, Trovy is live in 27 US states and holds licences in 30, having brought its inaugural product to market in June 2025, roughly eight months after the company was formed.
Trovy 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.”
Trovy co-founder and COO Ashley Harris said, “We are building the platform homeowners have never had – one that helps them manage and enjoy their home, and leverage their equity for low-cost financing, whether that’s handling the costs of homeownership or funding the rest of their lives. We want Trovy to be the home base for every homeowner. Once you have it, you won’t want to own a home without it.”
Left Lane Capital partner Henry Toole said, “TJ and Ashley have built something rare, and they have the backgrounds to match. The team has a wealth of fintech experience from Figure, SoFi, and JPMorgan. 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.”
Kleiner Perkins partner Leigh Marie Braswell said, “TJ, Ashley, and the Trovy team are building for a simple but enormous reality: for most Americans, the home is their largest asset, yet the financial products around homeownership still feel fragmented, slow, and expensive. Trovy is turning home equity into something homeowners can actually use in everyday life. We’ve believed in this team from the beginning, and we’re thrilled to continue supporting them.”
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