“Can an AI-powered, asset-backed credit card platform expand from home equity to become the lowest-cost, multi-collateral 'machine banking' platform for American homeowners and asset holders?”
Founded in 2019 by former Facebook and Square executives, Aven initially focused on a single product: a Visa credit card combining a home equity line of credit (HELOC), targeting US homeowners locked out of low-cost credit. By 2024 it had issued $1.5B in credit lines and reached unicorn status. The Series E in 2025 marked a strategic pivot toward a broader 'machine banking' platform — expanding beyond home equity into mortgage refinancing, unsecured rewards credit, and in 2026, bitcoin-backed credit lines — positioning Aven as an AI-driven, asset-backed lending platform across multiple collateral classes.
Aven discloses Coastal Community Bank (sponsor bank) as its banking provider, with Coastal Community Bank as its sponsor bank, according to the Embedded Finance Index 2026.
Aven does not disclose a bank charter of its own; its banking services are provided through Coastal Community Bank.
Aven's cards are issued through Coastal Community Bank.
Aven's crypto products run on BitGo.
The Embedded Finance Index 2026 maps 5 layers in Aven's stack: Banking / BaaS (Coastal Community Bank (sponsor bank)); Card issuing (Coastal Community Bank); Lending (Home equity line of credit (HELOC-backed credit card), Bitcoin-backed line of credit (up to $1M), Home Equity Cash (cash-out), Fixed-rate fixed-term loan plans (up to 10 years) and 1 other); Sponsor bank (Coastal Community Bank); Crypto (BitGo).
Aven was founded by Former Facebook executives and Former Square executives and is founded in 2019, headquartered in San Francisco, CA, USA.
Aven has raised $372M+ in total (latest round: Series E, September 2025; valuation: $2.2B post-money (2025)).
Get a read on where your own stack stands against Aven and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.