Avant (formerly AvantCredit), a Chicago, IL-based online lending platform, has launched Avant Institutional Marketplace, a program which enables institutional investors to purchase loans originated by the Avant technology platform.The $400m financing arrangement to purchase newly originated loans was led by KKR, which was joined by Jefferies and Victory Park Capital.
Led by Al Goldstein, CEO, Avant is an online lending platform that use big data and machine-learning algorithms to issue more than 150,000 loans. It has raised over $1.4 billion in funding to date from Tiger Global Management, August Capital, Victory Park Capital, Peter Thiel, KKR, DFJ Growth, and RRE Ventures. The company operates in 46 U.S. states and in the United Kingdom.
FinSMEs
13/04/2015