Available directly to consumers through the Avant website, this product cuts out the middle-man offering a streamlined online application that provides consumers with a quick credit decision process within seconds of submitting the application.
The product will initially launch in California and expects to be live in Illinois and Georgia by early Q2 2016. National rollout is expected by Q3.
Led by Al Goldstein, CEO, Avant recently expanded into auto-secured loans and plans to launch new and used car purchase financing as well as a credit card product later this year.
Founded in late 2012, Avant is a marketplace lending platform which has originated more than 480,000 loans globally surpassing the $3 billion mark. Most recently, the company closed a $325m Series E financing round led by General Atlantic, bringing total debt and equity funding to $1.7 billion.