Trovy
Trovy is a New York-based consumer fintech founded in 2024 that provides U.S. homeowners with digital, card-based access to home equity through a HELOC product, currently live in 27 states with $25M in total funding.
- Company typePrivate
- Founded2024
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Trovy does
Trovy is a U.S. consumer fintech founded in 2024 and headquartered in New York that provides homeowners with digital access to home equity through a card-based HELOC product. The company's core offering is the Trovy HELOC, which delivers revolving credit lines of $10,000 to $250,000 at variable APRs ranging from 5.99% to 14.39%, packaged with a Mastercard-linked Trovy Card issued by Cross River Bank. The product is distributed through a 100% online application flow with remote online notary closing, enabling funding in as few as 4 days — a significant compression of the traditional HELOC timeline. Two proprietary features differentiate the platform: Trovy SmartPay, which underwrites borrowers on their post-payoff debt-to-income ratio to qualify them for higher limits and lower rates, and Trovy FixedPay, which enables conversion of variable-rate balances to fixed rates on amounts over $100.
Trovy monetizes through interest income on drawn HELOC balances (its primary revenue stream), draw fees of up to 3.99% on balance transfers and cash advances (capped at 5% lifetime), and interchange/cash-back economics on Trovy Card purchases (2% cash back on home purchases, 1% on other purchases). The company operates exclusively as a direct-to-consumer lender targeting U.S. homeowners — a horizontal segment with approximately 85 million addressable customers — for use cases spanning debt consolidation, emergency funds, home renovation, and major purchases. The Trovy Card is issued under a Mastercard license via Cross River Bank, which provides the regulated deposit institution infrastructure.
As of June 2026, Trovy is operationally live in 27 U.S. states and holds lending licenses in 30 states, with stated intent to reach national coverage using proceeds from its $15M Series A round led by Left Lane Capital (with Kleiner Perkins, DCM Ventures, and Camber Creek participating), bringing total funding to $25M. A second product, Trovy 1Loan — a HELOC designed for home purchases and refinances — is scheduled to launch in summer 2026, extending the company's footprint beyond the home-equity-as-credit-card proposition. The company was co-founded by CEO TJ Milani and COO Ashley Harris.
Trovy firmographics
Firmographics- Name
- Trovy
- Legal name
- Trovy Technologies, Inc.
- Website
- https://trovy.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Trovy is a New York-based consumer fintech founded in 2024 that provides U.S. homeowners with digital, card-based access to home equity through a HELOC product, currently live in 27 states with $25M in total funding.
- Ownership category
- akta.pro rank
Trovy industry classification
Industry- Product category
- Home Equity Lending
- NAICS
- Credit Intermediation and Related Activities (522), Credit Card Issuing (522210)
- SIC
- Personal Credit Institutions (6141), Finance Services (6199)
- akta.pro primary industry
- Home Equity–Based Debt Consolidation (HEL/HELOC for consolidation) (FSAKAIAE)
- akta.pro secondary industries
- Revolving Lines of Credit (Personal HELOC-excluding / Unsecured LOC) (FSAKABAL), Home Equity Loan/HELOC Servicing & Subservicing (FSALAGAD)
Keywords
Where Trovy is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Trovy business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- HELOC Interest Revenue: Trovy generates revenue through interest charged on HELOC balances. Variable APRs range from 5.99% to 14.39%, with rates applied to drawn amounts only. No interest charged if balance paid in full monthly.
- Draw Fees: Fees charged on balance transfers and cash advances: up to 3.99% per draw, subject to a 5% lifetime cap. No draw fees on Trovy Card purchases.
- Cash Back Rewards Redemption: Customers earn 2% cash back on home purchases and 1% on other purchases, redeemed as statement credit at 1 cent per point.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | HELOC credit lines from $10,000 to $250,000 |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Trovy product offering
Product offeringCore offering
Trovy provides homeowners with a home equity line of credit (HELOC) accessible through a Mastercard-branded credit card called the Trovy Card. Customers can draw funds for debt consolidation, emergency funds, home renovation, or major purchases at variable APRs from 5.99% to 14.39% on credit lines of $10,000 to $250,000, with a fully digital application, remote notary closing, and funding in as few as 4 days. The platform is augmented by Trovy SmartPay underwriting and Trovy FixedPay fixed-rate conversion features, with a companion HELOC product for purchases and refinances (Trovy 1Loan) planned.
Product overview
Trovy is a consumer fintech company offering home equity-backed financing products through a unified platform. The core product is the Trovy HELOC, a home equity line of credit with card-based access via the Trovy Card (a Mastercard), providing homeowners access to credit lines up to $250,000 at rates as low as 5.99% variable APR. A companion product, Trovy 1Loan (launching summer 2026), is designed for home purchases and refinances. The platform supports multiple use cases including debt consolidation, emergency funds, home renovation, and major purchases. Key features include Trovy FixedPay for fixed-rate conversion and Trovy SmartPay for enhanced underwriting.
Differentiator
Problem solved
Functional benefit
Brands
- Trovy 1Loan: HELOC product designed for home purchases and refinances, launching summer 2026
- Trovy SmartPay
- Trovy FixedPay
Products and services
- Trovy HELOC A home equity line of credit (HELOC) for individual U.S. homeowners offering credit lines up to $250,000, variable APRs from 5.99% to 14.39%, and access via the Trovy Card (Mastercard). Funding available in as few as 4 days through a 100% online application with remote notary closing.
- Trovy 1Loan A HELOC product designed specifically for home purchases and refinances, expanding Trovy's home equity lending offering beyond general-purpose draws to support buying and refinancing scenarios for U.S. homeowners.
Quantifiable outcome
- Rates as low as 5.99% variable APR compared to average credit card APR of 22.25%
- +2 more outcomes
Companies that use Trovy
Customer profileSegments1 record
Ideal customer profiles1 record
Trovy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Trovy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- MastercardcoreThe Trovy Card operates on the Mastercard network, enabling acceptance at millions of merchants worldwide. The card is issued pursuant to a Mastercard license.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Trovy competitors and assessment
Company assessmentEmerging players
- Point (Point Digital Finance): Point offers home equity investment products that allow homeowners to sell a share of their home's future value, competing with Trovy for homeowners who want equity access without new loan payments. Overlapping customer base but different financial instrument.
- RenoFi: RenoFi finances home renovations through a HELOC-based product targeting the renovation use case that Trovy explicitly markets. Both serve homeowners seeking renovation capital via home equity rather than personal loans.
- Hometap: Hometap provides home equity investments rather than HELOCs, but competes with Trovy for homeowners seeking to unlock equity without taking on new monthly debt payments. They target an overlapping homeowner base with a structurally different product.
Direct peers
- Figure Technologies: Figure originates HELOCs and home equity loans through a fully digital, blockchain-settlement platform, targeting the same homeowner segment as Trovy with speed and convenience as key differentiators. Figure's home equity product competes head-to-head with Trovy on digital closing and rate competitiveness.
- Aven: Aven offers a home equity line of credit delivered through a Visa credit card, directly competing with Trovy's HELOC card product for the same U.S. homeowner debt-consolidation and cash-access use cases. Both products combine revolving home equity with card-based access and emphasize digital onboarding.
- Unlock Home Equity (formerly Patch of Land): Unlock provides a digital HELOC experience to homeowners seeking to access home equity without traditional bank friction, competing with Trovy on online application speed and rate transparency. Both target consumers consolidating high-interest debt or funding home improvements.
Others
- Cross River Bank: Cross River Bank is Trovy's banking partner and card issuer, providing the regulated bank infrastructure and Mastercard license that Trovy relies on. It is a critical infrastructure enabler rather than a direct competitor, but also serves similar fintech clients.
- LendingTree: LendingTree operates an online loan marketplace where homeowners can comparison-shop for HELOCs from multiple lenders, including competitors of Trovy. It is an indirect competitor and a potential distribution channel for Trovy's product.
Broad incumbents
- Better.com: Better.com is a large digital mortgage lender that offers HELOCs alongside its primary mortgage products, competing with Trovy on digital experience and rate competitiveness across a broader consumer lending portfolio.
- SoFi: SoFi offers personal loans, mortgages, and home equity products as part of a broad consumer financial services platform, competing with Trovy for homeowners seeking low-cost debt consolidation. Its larger scale and deposit funding base give it a structural cost-of-capital advantage.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Trovy social profiles
Digital presenceTrovy compliance and trust
Trust signalCompliance2 records
Trovy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Trovy leadership team
Management profileNumber of profiles
Profiles2 records
Trovy subsidiaries and ownership
Company hierarchySubsidiaries1 record
Trovy funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Trovy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Trovy
What does Trovy do?
Trovy provides homeowners with a home equity line of credit (HELOC) accessible through a Mastercard-branded credit card called the Trovy Card. Customers can draw funds for debt consolidation, emergency funds, home renovation, or major purchases at variable APRs from 5.99% to 14.39% on credit lines of $10,000 to $250,000, with a fully digital application, remote notary closing, and funding in as few as 4 days. The platform is augmented by Trovy SmartPay underwriting and Trovy FixedPay fixed-rate conversion features, with a companion HELOC product for purchases and refinances (Trovy 1Loan) planned.
Is Trovy a public or private company?
Trovy is a private company. It is classified as venture growth investor backed and is currently operating.
When was Trovy founded?
Trovy was founded in 2024. It employs 11 to 50 people.
Where is Trovy based?
Trovy is headquartered in New York, United States, in the North America region.
How does Trovy make money?
Three revenue lines are on record. HELOC Interest Revenue is the primary driver. The others are draw Fees and cash Back Rewards Redemption.
Who are Trovy's main competitors?
Emerging players on record are Point (Point Digital Finance), RenoFi and Hometap. Direct peers are Figure Technologies, Aven and Unlock Home Equity (formerly Patch of Land). Others are Cross River Bank and LendingTree. Broad incumbents are Better.com and SoFi.
Does Trovy have an API?
No public API is recorded for Trovy.
What industry is Trovy in?
Trovy's product category is Home Equity Lending. Its primary akta.pro industry code is FSAKAIAE, Home Equity–Based Debt Consolidation (HEL/HELOC for consolidation), with a secondary code of FSAKABAL, Revolving Lines of Credit (Personal HELOC-excluding / Unsecured LOC). Its NAICS code is 522 and its SIC code is 6141.