San Francisco–based fintech startup Aven has raised US$110Mn in a Series E funding round led by Khosla Ventures, bringing its total valuation to US$2.2Bn. The round supports Aven’s expansion beyond credit lines into mortgage refinancing, positioning it to become a full-service platform focused on reducing borrowing costs for U.S. consumers.

Aven’s core offering leverages home equity to offer lower-interest alternatives to credit cards. According to the company, Americans pay over US$200Bn annually in credit card interest, a figure that has remained largely unchanged for decades despite rising household debt. Aven aims to cut this cost by up to 50% using homeowners’ existing equity.

To date, Aven has extended over US$3Bn in credit lines, tripled customer growth year-over-year, and estimates that it has helped users save more than US$215Mn in interest payments. Its expansion into mortgage refinancing builds on this momentum and reflects a broader ambition to create a "machine banking" platform—combining AI underwriting, robotic workflows, and automated optimization. The company also announced the addition of Larry Summers and Patrick McHenry to its advisory board, underscoring its commitment to policy-aligned innovation and long-term financial infrastructure reform.

With approximately 60% of U.S. homeowners carrying credit card debt at 20%+ APRs, Aven believes its tech-driven refinancing tools can offer more affordable alternatives, particularly for consumers with strong credit scores. The Series E follows prior rounds backed by notable investors and signals continued interest in fintech models that combine AI, automation, and asset-backed lending to challenge incumbent institutions.