Finova Financial has raised $52.5 million in a combination of equity and a credit facility from CoVenture.

The funding round was led by Silicon Valley investors and international venture capital firms, tech entrepreneurs and others, including: MHS Capital, Refactor Capital, Metamorphic Venture, 500 StartUps, entrepreneurs Sam Hodges, Jake Gibson and the Al Hamra Group.

The funding will be used by Finova to grow its all-digital lending platform serving the auto title loan marketplace.

“Finova Financial was launched to help consumers get critically-needed cash without the traditional barriers of high interest rates, inconvenient application processes and restrictive payment terms of the auto title lending industry,” said CEO Gregory Keough. “As a company committed to social impact, we see Finova Financial as being an advocate for consumer financial well-being through improved access to credit, better repayment terms and lower costs.”