Nova Credit announced investment from CDH INVESTMENTS to accelerate growth

Nova Credit Limited (“Nova”) is delighted to announce the company has successfully received a new round of growth investment of an undisclosed amount from CDH Investments, and CDH has become Nova’s second-largest shareholder. The fund will be utilized primarily on consumer bureau service development as well as other Greater Bay Area (GBA) initiatives.

CDH Investments is a leading alternative asset manager with a focus in the Greater China region and has approximately US$27 billion (as of December 31, 2021) assets under management.

Samuel Ho, CEO of Nova Credit Limited, welcomed CDH’s investment decision, “We are delighted to have CDH join the Nova family.  This is undoubtedly a symbolic achievement of Nova that our core values, innovations and contributions to GBA have been highly valued in addition to our core bureau business.  With our financial position strongest than ever, it will allow us to focus on pursuing our ultimate goals – to redefine the consumer bureau industry and to become the bureau of choice.”

Commenting on the investment, Max Hui, Managing Director of CDH Investments added that “In our quest for identifying suitable and quality investment opportunities, we believe that Nova is in well-positioned to make enormous contributions to reinforcing Hong Kong’s status as a financial, commercial and innovation center, raising the productivity and competitiveness of Hong Kong in the long run, and the greater good of Hong Kong and the GBA economy. We have been impressed with Nova and its management’s professionalism in credit bureau service and commitment to privacy and data protection. And in light of the global shift of emphasis to regulatory compliance across sectors, we have great confidence in Nova’s growth in data-driven RegTech, digital KYC, and digital anti-fraud spaces, that are value-accretive to global financial institutions and consumers.”

Nova Credit Limited has been named as one of the short-listed candidates for the “Multiple Credit Reference Agencies” as initiated by the local financial industries to specifically mitigate the systemic risk of the single point of failure in the current credit reference market in Hong Kong.