AvantCredit Rebrands to Avant to Expand Platform of Products and Services
Avant Acquires ReadyForZero to Help Borrowers Manage Debt Responsibly
CHICAGO, March 31, 2015 /PRNewswire/ -- AvantCredit, one of the fastest growing online platforms for consumer loans, is continuing to exhibit exponential growth with its tech-driven approach to consumer finance. As the brand expands to include new financial products and services, the company will operate under the brand name Avant (www.avant.com).
CEO Al Goldstein explains that Avant is a leader of technological advances within the consumer finance industry and is growing beyond its original offering, online consumer loans. "We are committed to creating innovative and practical financial products and services to empower the everyday consumer," says Goldstein. "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."
Through cutting-edge speed optimization, big data and machine-learning algorithms, Avant has transformed the traditional personal loan process into a streamlined, customer-friendly experience. In the coming months, Avant will diversify its product mix by applying its technological philosophy to launch additional financial products and services.
The company will also enhance the customer experience by integrating consumer finance management tools into the site. These additions include a free credit score monitoring tool on an online customer dashboard as well as personal finance tools for debt management from Avant-acquired ReadyForZero.com to financially empower consumers so they may borrow and manage debt responsibly. ReadyForZero is an award-winning online and mobile planning tool that has successfully helped consumers pay down $220 million in debt. The product has been proven to reduce net-credit losses at top U.S. banks and has helped consumers with subprime credit raise their FICO® Score by as much as 40 points.
Avant was Chicago's most funded startup in 2014 and has raised over $1 billion in funding to date. The company counts Tiger Global Management, Peter Thiel, KKR, DFJ Growth and RRE Ventures among its investors and has issued more than 150,000 loans through the Avant website. Personal loans are projected to exceed $1 billion by year-end. In less than three years, Avant has grown from its three co-founders to more than 600 employees. Avant has recently expanded to include offices in Los Angeles and the United Kingdom and expects to employ 1,000 employees total by the end of 2015.
More information regarding Avant's redefined financial product categories and interviews with Avant CEO Al Goldstein are available upon request.
About Avant
Avant is an online consumer finance platform that is changing the way consumers obtain credit. Utilizing big data and machine-learning algorithms, the company offers a unique and highly customized approach to streamlined credit options. At its core, Avant is a tech company that is dedicated to creating innovative and practical financial products for all consumers. After securing more than $1 billion in funding, Avant was the most funded company in Chicago in 2014. More than 150,000 loans have been issued through the Avant website. Avant has been featured in publications such as Wall Street Journal, The New York Times, TechCrunch, Fortune, Bloomberg and Crain's Chicago Business and was named to Forbes America's Most Promising Companies list for 2015. Avant operates in 46 U.S. states and in the United Kingdom. Find out more at www.avant.com.
CONTACT: Ashley Currie, 312-396-9763, [email protected]
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