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Alternative Lending Player Avant Announces $325 Million Series E Funding

Avant, one of the nation’s fastest growing marketplace lending platforms, announced today it has signed a definitive agreement related to a $325 million Series E equity finance round and expects to close the transaction in mid-October. The funding round is being led by global growth equity firm General Atlantic, with additional participation from Balyasny Asset Management and J.P. Morgan. Existing investors Tiger Global Management and August Capital are expected to participate in the financing round as well as RRE Ventures and DFJ Growth.

Through the use of technology, Avant has transformed the personal loan process into a streamlined, consumer-friendly experience. The platformemploys advanced machine-learning algorithms and big data to provide near-prime consumers with secure and conve ...

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