March 31, 2015
AvantCredit, the Chicago, IL-based financial tech startup that utilizes innovative strategies to disrupt the online consumer lending industry, announced earlier today that they have rebranded to simply “Avant”. The rebrand is a result of the company’s plans to further expand its set of financial products and services. In addition, Avant announced the acquisition of ReadyForZero, a mobile- and online-platform offering tools to help consumer pay off their debt.
“We are committed to creating innovative and practical financial products and services to empower the everyday consumer,” said Avant CEO Al Goldstein, in a statement. “We are excited to bring a new level of personalized service to our customers and to enrich our mission of lowering the costs and barriers of borrowing.”
Avant utilizes algorithms, machine-learning capabilities, and analytics to provide a consumers with an entirely new way to approach online lending. According to the company, the acquisition of ReadyForZero will enable it to add additional personal finance tools to its current platform. Some of these new features will help consumers better manage their finance through things like free credit score monitoring and tools for helping them make smarter decisions about borrowing and managing debt.
Launched at the end of 2012 and offering its first loan in January of the following year, Avant has grown to become Chicago’s most funded startup in 2014. At the end of 2014, the company raised a $225 million Series D round of funding. Currently, the company has more than 600 employees; by the end of the year, it plans to open offices in Los Angeles and the United Kingdom to grow their employees to 1,000 people.
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