AvantCredit, a Chicago, IL-based national online provider of consumer loans, received $275m in total financing.
The financing included a $75m Series C funding round was led by Tiger Global Management. A $200m credit facility was led by Victory Park Capital.
The funding, which brings the equity raised and debt committed to more than $300m, will be used to support growth of its loan portfolio, expand its technology and data capabilities and continue hiring additional developers and data scientists.
Led by chief executive officer Al Goldstein, AvantCredid supplies personal loans between $1,000 and $20,000 to qualified borrowers in nearly all 50 states. It is designed for customers looking for a competitive rate and an online approval process.