Trovy: A Financial Home Base for Homeowners

Consumer finance has spent years creating new forms of debt. However, for 85 million American homeowners, the cheapest source of capital is often one they already possess. While households carry more than $5.1 trillion in nonmortgage consumer debt and pay nearly $600 billion in annual interest, much of it at rates above 20%, they also hold trillions of dollars in home equity. Trovy is building the infrastructure that allows homeowners to put that capital to work more effectively. We’ve believed in that vision since co-leading their seed, and we are excited to continue to support the company through their $15 million Series A.

Trovy gives homeowners a smarter, faster way to put their equity to work. Its flagship product is a home equity-backed credit card that turns equity into low-cost capital homeowners can use anywhere, in place of the high-rate cards, personal loans, and specialty financing they might otherwise combine. 

Trovy’s long-term vision is to build the financial home base for homeowners. On one side is smarter financing, with on-demand access to equity for a renovation, a dental bill, a family vacation, or ordinary purchases. On the other is a homeowner hub: maintenance reminders, expert tips, document storage for insurance policies, warranties, and home records, and a rewards program built around what homeowners actually spend on. 

Trovy’s founders TJ Milani and Ashley Harris bring extensive fintech experience from Figure, SoFi, and JPMorgan, and they’ve built Trovy as a licensed consumer lender rather than a thin layer on top of a bank partnership. This gives them direct control over the product, the underwriting, and the entire borrower experience. Their deep industry expertise is evidenced by their exceptional shipping pace. Less than 18 months after founding, Trovy is live in 27 states and licensed in 30, having shipped its first product just eight months after formation. In addition, this summer Trovy launches the 1Loan, a HELOC purpose-built for home purchases and refinancings that meets homeowners at the moment they buy or refinance and grows with them from there.

Home equity is one of the largest and most underused categories in consumer finance, and Trovy is building the definitive modern platform for it. We’re proud to keep backing TJ, Ashley, and the broader Trovy team.