Aven

Sadi Khan, Collin Wikman and Murtada Shah founded Aven in 2019. Its home-equity credit card launched in California in 2022.⁠[1]

A data security incident around July 17 led to class litigation alleging inadequate protection of personal information. Aven denied liability and wrongdoing and began notifying affected individuals that month.⁠[2]

On July 17, Aven announced a $142 million Series D co-led by Khosla VenturesKhosla VenturesKhosla Ventures (KV) is an American venture capital firm founded in 2004 by Vinod Khosla, the founding CEO of Sun Microsystems, and headquartered in Menlo Park, California. It made heavy early bets on clean technology, became OpenAI’s first venture capital investor in 2019, and its portfolio also includes companies such as DoorDash, Block (formerly Square), Impossible Foods, and Rocket Lab.Open the full entry and General CatalystGeneral CatalystGeneral Catalyst (GC) is an investment firm founded in 2000 and headquartered in San Francisco, United States, created by Joel Cutler, David Fialkow and Bill Fitzgerald, that backs companies from the seed stage through growth.Open the full entry, alongside the creation of an advisory board.⁠[1]

The financing was intended to extend Home Card to all 50 states, scale Aven Advisor and explore auto-backed cards and mortgage refinancing. These were stated uses of capital and expansion goals.⁠[3]

On September 9, Aven announced a $110 million Series E led by Khosla Ventures at a $2.2 billion post-money valuation. It said cumulative credit lines issued exceeded $3 billion. The announcement also named Lawrence Summers and Patrick McHenry as new advisory-board members.⁠[4]

That month, Aven was testing mortgage refinancing with a planned rollout within six months. Khan set a goal of cash-out refinancing in as little as ten days; this was a target, not a universally available service commitment.⁠[5]

In Marino, the plaintiff alleged unauthorized credit-report access and a home-equity loan. Aven disputed this, saying she applied for a card without home-equity backing. On November 5, the district court partly granted and partly denied dismissal, allowing amendment of certain claims.⁠[6]

The Lasky settlement website records final approval on December 2. The $450,000 settlement did not constitute a finding of wrongdoing; Aven continued to deny liability.⁠[7][2]

Haven Federal Credit Union in Santa Clara, California, received an effective federal charter and share insurance on December 5. Its planned services included mortgages, home equity, savings and auto lending.⁠[8]

In January, Khan disclosed that he and Aven were donating several million dollars to establish Haven. The credit union had separate management and independent product decisions; Khan and another Aven employee joined its five-member board.⁠[9]

On April 27, Aven launched Bitcoin Visa Card with credit lines up to $1 million and fixed terms up to ten years for cash-outs and balance transfers. BitGoBitGoBitGo is an American digital asset custody and infrastructure company founded in 2013 by Mike Belshe. It offers custody, wallets, staking, trading, financing, stablecoin and settlement services, and its subsidiary BitGo Bank & Trust, National Association, is a national trust bank regulated by the Office of the Comptroller of the Currency. The company listed on the New York Stock Exchange under the ticker BTGO in January 2026 and is the custodian and infrastructure provider for World Liberty Financial’s USD1 stablecoin.Open the full entry entities custody the collateral; Coastal Community Bank issues the card. BitcoinBitcoinBitcoin (common symbol BTC) is an open peer-to-peer electronic cash protocol, network, and native digital asset. Full nodes independently verify transactions and blocks according to the consensus rules; transactions are recorded as UTXOs, and blocks are organized into a public ledger through proof of work. Bitcoin is not issued or managed by any single institution, but using, holding in custody, and trading it still involve key, privacy, market, and legal risks.Open the full entry is not FDIC-insured.⁠[10]

On August 7, the Ninth Circuit reversed and remanded the denial of arbitration in Marino, holding that the arbitrator should decide arbitrability. It did not determine liability on the credit-reporting allegations or whether the underlying claims were ultimately arbitrable.⁠[11]

On September 28, Aven and Forest River introduced Homeline home-equity, Journey Rewards and Trailhead deposit cards. Aven’s first co-branded financial partnership distributed them through participating RV and marine dealers, with Aven supplying technology and financial infrastructure.⁠[12]

On October 30, Aven introduced Home Purchase Line for qualified buyers borrowing up to $2 million. It claimed closings in as little as seven days and cited a 67-hour Tucson transaction; this was not a guarantee for every applicant. The purchase balance has a 30-year fixed-rate repayment plan, with available credit reusable after closing.⁠[13]

That day, Aven announced a $304.2 million asset-backed securities offering backed by 6,786 fixed-rate, fixed-term Home Equity Card receivables. About $234.5 million of senior notes received AAA from S&P and AAA (sf) from Morningstar DBRS. This was not equity financing.⁠[14]

Aven earns loan-interest shares, interchange and cash-out or balance-transfer fees. Home collateral can lower rates but puts the property at risk. In 2024, Khan acknowledged foreclosures while declining to disclose company-specific default rates.⁠[15]

As of November 2026, the Home Equity Card offered up to $400,000, combining variable-rate revolving credit with fixed-rate plans. It requires a property lien and charges cash-out and balance-transfer fees.⁠[16]

As of November 2026, the website allowed partial liquidation for arrears or an LTV above 80% left unreduced for 72 hours, and full liquidation at 85%. Its no-rehypothecation policy does not prevent sales triggered by price changes.⁠[17]

The website estimates cumulative interest savings by comparing revolving and fixed-plan balances with benchmark card or personal-loan rates and adding monthly results. This is not revenue or a promise of equal savings for every customer.⁠[18]

The purchase line requires a first lien and a full appraisal by a selected licensed appraiser. It is unavailable in some states and excludes multi-unit and manufactured homes. Inspections, title reviews and underwriting delays can extend closing times.⁠[19]