Trovy, a consumer fintech focused on home equity-backed financing, has raised a $15 million Series A round led by Left Lane Capital, bringing its total funding to $25 million. Existing investors Kleiner Perkins, DCM Ventures and Camber Creek also participated in the round.
The funding comes as household debt in the United States continues to grow. According to figures disclosed by the company, nonmortgage consumer debt has surpassed $5 trillion, generating an estimated $550 billion in annual interest payments. Trovy's business model is built around the idea that homeowners can use accumulated home equity as a lower-cost source of borrowing compared with traditional consumer credit products.
Founded less than 18 months ago, Trovy launched its first product in June 2025, roughly eight months after the company was formed. The platform is now operating in 27 states and holds lending licenses in 30. Unlike many fintech companies that distribute financial products through bank partnerships, Trovy operates as a licensed consumer lender, allowing it to manage underwriting, product design and customer experience directly.
The company's primary offering is a home equity-backed credit card that provides homeowners with access to financing secured by their property. The product is designed to compete with traditional credit cards, personal loans and other forms of consumer borrowing. The Trovy card is issued by Cross River Bank under a license from Mastercard.
Beyond lending, Trovy is building a platform that combines financing with homeownership management tools. The company said its homeowner hub includes maintenance reminders, document storage for insurance policies and warranties, and information intended to help users manage and preserve the value of their homes.
The company also plans to introduce a second product this summer. Called the 1Loan, the offering is structured as a home equity line of credit designed for home purchases and refinancing. Trovy said the product will provide homeowners with ongoing access to equity after a purchase or refinance transaction has been completed.
"As a homeowner, you've spent years building equity and you deserve a better way to put it to work," said TJ Milani, Trovy Co-Founder and CEO. "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."
Ashley Harris, Trovy's Co-Founder and COO, said the company is pursuing a broader platform approach that combines financing with home management capabilities.
"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," said Harris. "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."
Investors backing the company view home equity as an underserved segment within consumer finance. Henry Toole, Partner at Left Lane Capital, pointed to the founders' experience at Figure, SoFi and JPMorgan and the size of the market opportunity tied to residential property ownership.
"TJ and Ashley have built something rare, and they have the backgrounds to match," said Toole. "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."
Leigh Marie Braswell, Partner at Kleiner Perkins, said the firm's continued support reflects its view that existing financial products tied to homeownership remain fragmented and expensive for many consumers.
"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," said Braswell. "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."
