Tagged: avant

Avant Raises $250 Million of Debt and Preferred Equity from Ares Management Alternative Credit

Avant has raised $250 million of corporate debt and redeemable preferred equity from Ares Management Alternative Credit funds, according to a release. Avant is an online lender that targets alternative assets like specialty finance, leasing, structured products and more. Matt Bochenek, CEO of Avant, said… Read More

Neobanking Fintech Avant Teams Up with Major League Soccer (MLS)

As Major League Soccer (MLS) nears the mid-way mark of its exciting 27th season, MLS and Avant, a credit-first neobank that gives consumers access to the financial solutions they “deserve,” announced “a multi-year partnership.” Kevin Chin, Head of Business Development & Partnerships at Avant, said:… Read More

WebBank Invests $250M in Avant to Support Credit Card Program

WebBank recently announced that it has committed to invest up to $250 million in the obligations of a securitization structure supported by Avant that are “secured by credit card receivables.” The investment will be used “to meet the continuing demand and growth of the Avant®… Read More

Fintech Firm Avant Announces Launch of Digital Banking Platform

Avant, a financial technology firm that aims to give middle-income consumers access to the credit they “deserve,” has announced the official launch of Avant Banking. The launch of Avant Banking further expands the firm’s financial product portfolio of personal loans, credit cards and auto refinance…. Read More

Unicorn: Financial Institutions Tech Amount Secures Nearly $100 Million Through Series D Funding Round; Bringing Post-Money Valuation to $1 Billion 16 Months After Spin-Off From Avant

  Amount, a U.S.-based financial institutions tech company, announced on Tuesday it raised nearly $100 million through its Series D funding round and has achieved unicorn status by having a post-money valuation of $1 billion. Founded last year, Amount reported it delivers the technology financial institutions need to create and… Read More

U.S. Fintech Avant Acquires Zero Financial & Level

U.S. fintech Avant announced on Wednesday it has completed the acquisition of Zero Financial and neobank Level. Avant reported the acquisition of Level will allow it to expand its reach by offering digital banking experiences to its American customers. According to Avant, Level offers cashback… Read More

Fintech Avant, which Gives Americans Access to “Financial Products they Deserve,” Explains what You Need to Know About Stimulus Checks

Chicago-based Avant, a Fintech firm that aims to give everyday Americans “access to the financial products they deserve,” notes that millions of US residents continue to struggle through the COVID-19 pandemic. However, a $900 billion relief bill was recently signed into law (toward the end… Read More

Goldman Sachs Leads $81 Million Series C Investment in Amount

Amount, a spin-off from online lender Avant, has raised an $81 million Series C funding round led by Goldman Sachs (NYSE:GS). This is an interesting investment for Goldman because they are looking to leverage Marcus to provide digital banking services to erstwhile competitors. Other investors… Read More

Joseph Otting to Step Down as Comptroller of the OCC, Former Coinbase Chief Legal Officer & Current OCC First Deputy Brian Brooks to Become Acting Comptroller

Comptroller of the Currency Joseph M. Otting will step down from the office on May 29, 2020, according to a release posted by the Office of the Comptroller of the Currency (OCC).  Current OCC First Deputy and Chief Operating Officer Brian P. Brooks will take… Read More

Avant Announces Completion of Planned Spin-Off SaaS Business “Amount”

Digital consumer lending platform Avant announced on Wednesday the completion of its planned spin-off of Amount, which is described as a SaaS technology business that enables financial institutions to digitize their product offering. Avant reported that the spin-off “empowers” both companies to effectively maximize capital and… Read More

After Years of Debate, Avant May be the First to Receive an OCC Fintech Charter

Online lender Avant is said to be in “late-stage discussions” concerning the approval of an Office of Comptroller of the Currency (OCC) Fintech charter. The news was apparently revealed on Politico Pro. Big scoop by @vtg2 on @Avant_US in late stage discussions re: @USOCC #FinTech… Read More

HSBC Partners with Avant’s End-to-End Tech Amount to Launch Digital Lending Platform

U.S. banking and financial service HSBC announced on Wednesday it has partnered with Avant’s end-to-end technology platform Amount to launch a new digital lending platform, which will U.S. consumers, including existing HSBC customers, with a simple way to apply for personal loans online. HSBC reported is… Read More

Gone Crypto: Former Trump Advisor Gary Cohn Joins Blockchain Startup Spring Labs as an Advisor

Gary Cohn, formerly the Chief Economic Advisor to President Trump and former President and COO of Goldman Sachs, has joined a blockchain startup, Spring Labs, as an advisor. Spring Labs is  building a “decentralized network for identity and credit” to provide a more secure and… Read More

Avant Announces Rebranding of Fintech SaaS Business Unit

U.S.-based Avant announced on Tuesday it has rebranded its fintech SaaS business Unit to be Amount. According to Avant, Amount utilizes the technology, intellectual property, and capabilities developed by Avant to provide custom technology solutions for financial institutions. Avant reported that several financial institutions, such as Regions Bank and… Read More

Chicago Rising: New Entry to List of Fintech Hubs is Important Gain for the Windy City

Deloitte’s recent report on Fintech Hubs entitled A tale of 44 cities – Connecting Global FinTech: Interim Hub Review 2017 indicated that London remained at the top of the list with Singapore closely behind it and obviously hoping to become number one. But alongside the original 20… Read More

Global Debt Registry Adds Avant as Network Partner

Global Debt Registry (GDR), a company that provides loan data validation expertise, has announced the addition of online lending platform Avant to its verification network. Avant offers access to unsecured personal loans ranging from $1,000-$35,000 with funding as soon as the next business day. The online lender… Read More

Avant Quietly Shuts Down ReadyForZero Credit Monitoring and Debt Management Site

Online lender Avant acquired ReadyForZero in 2015 to promote debt and credit related financial education.. ReadyForZero is a debt management and credit monitoring platform that helped consumers manage their finances.  While no terms of the acquistion were revealed, ReadyForZero had reportedly raised $5 million in a… Read More

Orchard: Loan Originations Appear to be Back on Track

Orchard Platform is out with their weekly report and they are reporting that “things appear to be getting back on track” as money is flowing back into the online lending sector.  New loan issuance is being led by platforms like SoFi and Avant. If this… Read More

Sign of the Times: Avant Offers Buyouts to All Employees

Avant, an online lender, has offered the option for buyouts to all 760 of the company’s employees. It was not clear how many Avant employees would accept the offer. The news is a painful reminder that online lending is still struggling to regain its footing… Read More

Drums Pounding: New York Financial Regulator Has Sent Letters to 28 Online Lending Platforms

The New York Department of Financial Services apparently is not content with just rifling through recent actions at Lending Club, the state agency has now sent letters to 28 different online lenders.  This is according to a report by Reuters – the news agency happened… Read More

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