Aura Financial Corporation

Aura Financial Corporation is a financial services company focusing on providing accessible loans to individuals with limited credit histories or those facing financial hardships. Aura Financial Corporation, founded in 2012, operates out of San Francisco, US, facilitating personal loan services. The company has pivoted to include diverse lending options, having completed a total of 12 deals by January 2021. Founded by Adam Zotevski and Kevin Kang, the firm most recently raised USD 28.

70 mn in a VENTURE DEBT round led by Angel Island, bringing its total amount raised to USD 10. 00 mn. Aura Financial Corporation primarily offers personal loans, including unsecured loans ranging from USD 300 to USD 6,000 and secured loans up to USD 18,500. These financial solutions are designed to assist customers in managing personal expenses such as medical bills and home repairs while evaluating loan applicants based on a broader set of criteria beyond traditional credit scores.

Aura Financial Corporation generates revenue through personal loans, which may incur administrative fees of up to 10% of the principal amount. For example, a borrower taking an unsecured loan of USD 3,333 might face a 10% fee, influencing their payment structure. The company interacts directly with consumers through online applications and physical locations, establishing close relationships with clients. In January 2021, Aura Financial Corporation discontinued its operations.

There are no specific upcoming products or market expansion plans disclosed as the company has ceased operations.