When people move to the U.S., either permanently or on a temporary visa, they often leave behind their established credit histories. That can make starting up their lives in the States expensive and difficult.
"You come here and then the financial services sector shuts you out," says Misha Esipov. He's the CEO of Nova Credit, a company he founded in 2015 with two of his former classmates at Stanford University to address this issue.
"If you go to any major graduate program, half of the students are foreign, and 100 percent of that half will tell you the same narrative about how they can't get a credit card, an apartment lease, a cell phone plan, a student loan," says Esipov, now 30.
Esipov moved to the U.S. from Russia when he was 3 years old. COO Nicky Goulimis is English and CTO Loek Janssen is Dutch and, while both had proven, back home, that they were reliable borrowers, U.S. lenders couldn't access that information.