July 30, 2014
On July 23, 2014, one of the fastest-growing national online providers of consumer loans, AvantCredit, announced the completion of a $75 million round of Series C funding, led by Tiger Global Management, and a $200 million credit facility, led by Victory Park Capital.
AvantCredit’s tremendous growth in just under two years is a reflection of consumer demand for a better, faster, more convenient borrowing experience, stated Al Goldstein, CEO of Avant, in a press release. This additional infusion of capital validates the success of our business model and will enable us to continue to innovate and enhance our technology – and attract the best and brightest data engineers in tech today.
We’ve backed AvantCredit’s mission from the very beginning, and we’re excited to expand our role with this latest transaction, said Brendan Carroll, a partner at Victory Park Capital. With each new round of funding, AvantCredit continues its revolutionary disruption of the personal-loan industry with its passionate team, industry-leading analytics and personalized online approach to borrowing.
AvantCredit says it is changing the way online-banking customers borrow money. Using advanced algorithms and machine-learning capabilities, the company offers a unique and highly customized approach to the personal-loan process. The combination of technology, analytics and customer-service capabilities enables the company to offer an easy-to-use online process for loans to borrowers, all entirely online. Find out more at AvantCredit.com.