Avant

lendingonline loans

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 17/07/2020

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MEDICI Analysis

Avant provides a B2C marketplace lending platform that leverages big data and machine-learning algorithms to offer a customized approach to streamlined credit options. It works under the name AvantCredit in the UK and Canada.

Focus

PRODUCTS & SERVICES

Online consumer lending & underwriting platform

REVENUE MODEL

AvantCredit does not charge any origination fees to consumers, but charges interest rate. Interest varies from 19% - 40%

MAIN CLIENTS

Retail Borrowers

COMMENT

Simple application process, faster approvals with no prepayment fees

Traction

VALUATION / MARKET CAP:

$1.9 B in 2018

REVENUE

$10M+ in 2016

REVENUE COMMENT:

The company had a revenue of $438Million in 2016

ACTIVE USERS:

0.1500

TRACTION COMMENT:

More than 500,000 customers have been served worldwide through the Avant platform(2016).

People

BOARD MEMBERS AND ADVISORS

Tripp Jones

Steve Joung

Al Goldstein

NUMBER OF EMPLOYEES

501-1000

INVESTORS:

August Capital

DFJ Growth

Founders Fund

General Atlantic

Jefferies Group

JP Morgan Chase

KKR

Kohlberg Kravis Roberts

Mark Friedgan

Peter Thiel

QED Investors

RRE Ventures

Tiger GlobalManagement

Victory Park Capital

KEY EMPLOYEES:

Paul Zhang

Momentum

FUNDED

YES

TOTAL FUNDING

$654 M

DATE OF LAST FUNDING

Sep 2015

FUNDING SERIES

SERIES A  · $9 M  · May 2013

SERIES B  · $20 M  · Aug 2013

SERIES C  · $75 M  · Jul 2014

SERIES D  · $225 M  · Dec 2014

SERIES E  · $325 M  · Sep 2015

DEBT FUNDING

$400 M

LISTED

NO

COMMENT

Series D: $225 M(Dec 2014), Debt financing: $1.08 B(May 2016)

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