Trovy Raises $15M in Series A Funding Led by Left Lane Capital

The round also saw participation from existing seed investors Kleiner Perkins, DCM Ventures, and Camber Creek.

The company plans to use the funding to expand across new regions, further develop its financial products platform, and grow its team.

Household debt in the U.S. has reached record levels, with non-mortgage consumer debt exceeding $5 trillion and costing Americans about $550 billion in interest each year, often at rates above 20%. At the same time, around 85 million homeowners hold trillions of dollars in unused home equity that could provide a much cheaper source of funding.

Read More:Redo Raises $81M in Series B Funding Led by Smash Capital

Trovy was created to help close this gap by giving homeowners faster, smarter access to their home equity and lowering borrowing costs. Its main product is a home equity–backed credit card that lets homeowners access low-cost funds on demand, replacing high-interest credit cards, personal loans, and other expensive financing options used for everyday expenses.

Trovy is building what it calls a financial home base for homeowners: a single platform that combines smarter financing with tools for managing the home. On the financing side, it gives homeowners on-demand access to their home equity at a lower cost than traditional debt, whether for renovations, medical bills, travel, or everyday spending.

The platform also includes a homeowner hub with maintenance reminders, expert advice, and storage for important documents like insurance policies, warranties, and home records. In addition, it offers a rewards program based on common homeowner spending, helping users protect and get more value from their homes.

Trovy is launching its second financial product this summer called the 1Loan, a HELOC designed for home purchases and refinancing. Unlike a traditional mortgage, it gives homeowners flexible, on-demand access to their equity for needs like home improvements, debt consolidation, and other expenses. The 1Loan is designed to support homeowners at the time of buying or refinancing a home and continue to grow with them over time.

"TJ and Ashley have built something rare, and they have the backgrounds to match," said Henry Toole, Partner at Left Lane Capital. "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."

"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 Leigh Marie Braswell, Partner at Kleiner Perkins. "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."

"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 Ashley Harris, Trovy Co-Founder and COO. "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."

"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."

About Trovy

Founded in 2024 by TJ Milani and Ashley Harris, Trovy is a consumer fintech platform that helps homeowners access and use their home equity in a smarter way. The Trovy card is issued by Cross River Bank under a Mastercard license.

Read More:Longshot Receives $5M Investment from South Park Commons