Avant Receives $339M in two Debt Financing Deals

Avant, a Chicago, Il-based marketplace lending platform, received $339 million in two debt financing deals.

The financing transaction with Jefferies LLC, will provide Avant with $139 million in debt financing.
The company also closed a $200 million revolving warehouse facility, with J.P. Morgan and Credit Suisse serving as senior lenders and with Waterfall Asset Management serving as a mezzanine lender. The deal will provide debt financing for Avant’s core US installment loan business.

Led by Al Goldstein, CEO, Avant is a marketplace lending platform that lowers the costs and barriers of borrowing for consumers through the use of big data and machine-learning algorithms.
More than 250,000 loans have been issued through the company’s website.

These deals bring Avant’s funding total to $1.1 billion in debt financing, $334 million in equity financing and $400 million raised through the Avant Institutional Marketplace.

Equity investors included Tiger Global Management, August Capital, Victory Park Capital, Peter Thiel, KKR, DFJ Growth, and RRE Ventures.



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