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Avant

Peer to Peer Lending
·Aug. 18, 2016

A Bad Quarter for Prosper and Avant Parts Ways With 30% of its Workforce

Two of the leading marketplace lending platforms reported some more bad news this week as the industry continues to struggle...
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News RoundupOnline LendingUSA
·Nov. 10, 2016

Avant Closes Consumer Finance Site

ReadyForZero has notified users that the site will shutdown on November 12; the platform was acquired in 2015 by Avant to provide debt management and credit monitoring services for consumers; Avant is a marketplace lender focused on personal loans; users were notified of the consumer finance website's closing by an email from ReadyForZero and Avant has not provided any further details on the closing.  Source

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Peer to Peer Lending
·Apr. 13, 2015

Avant Launches Institutional Marketplace with Some Big Name Investors

Avant has been somewhat of a quiet achiever in the online lending space. In just over two years CEO Al...
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News RoundupOnline LendingUSA
·Feb. 2, 2017

Avant Reports New Growth in 2017

Online lender Avant was one company greatly affected by the industry's challenges in 2016; in May it laid off 60 workers with further reductions in July; it also paused its plans to expand into Australia and offer new auto loans and credit cards; a new partnership with Regions Bank has helped revive the company's growth and it also plans to announce another partnership in February; the new business activity has helped it to begin hiring again and it's currently looking for 25 technologists and some additional customer service support; in 2017 Avant's President, Adam Hughes, says the firm will focus on three main initiatives: growing Avant's core lending product, partnering with more brick-and-mortar banks and launching the credit card product; it also has plans to continue its previous initiatives including Australia expansion and auto loans.  Source

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Peer to Peer Lending
·Sep. 26, 2018

Avant’s Amount Aims to Answer How Banks Can Stay Competitive

Many people don’t realize that Avant actually operates two lines of business. One, the online lending platform which offers loans...
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FintechNews RoundupUSA
·Feb. 6, 2020

Amount Raising New Round, Potential IPO in 2021

We were already aware of Avant’s spinoff called Amount which provides various technology solutions to banks; Amount is now raising...
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News RoundupOnline Lending
·Apr. 20, 2017

Avant Files New Securitization Documents

Consumer lender Avant filed documents with the SEC for a new unsecured consumer loan portfolio, Avant Loans Funding Trust 2017-A; the ABS deal looks to consist of 41,250 unsecured consumer loans, though the total portfolio pricing has yet to be released; the deal was audited by Deloitte; banks involved in the transaction include J.P. Morgan Securities LLC, Credit Suisse Securities LLC and Morgan Stanley & Co. LLC. Source

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News RoundupOnline LendingUSA
·Mar. 14, 2017

Avant Partners with Global Debt Registry

Avant has joined the Global Debt Registry (GDR) network; through the network partnership Avant's investors will have enhanced access to loan due diligence services; in comments regarding the partnership, Kevin Friedrich, senior director of treasury at Avant said, "We are delighted to partner with GDR to provide our investors with this independent loan data integrity service and help drive new transparency for the lending industry."  Source

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FintechNews RoundupUSA
·Apr. 16, 2019

Avant Settles With the FTC for $3.85 Million

Avant will pay $3.85 million to settle with the Federal Trade Commission for allegations that it misled customers who were...
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News RoundupOnline LendingUSA
·Dec. 21, 2016

Bank Partnerships a Positive Growth Factor for Avant in 2017

Avant's new partnership with Regions bank is helping growth projections and business development plans for the firm in 2017; Avant says the Regions partnership which began in October is expected to generate 25% of the firm's loan volume in 2017; the partnership includes referrals from Regions for customers who are not approved for loans; the firm also has four other partnerships planned for 2017; it plans to hire 125 new employees and is targeting monthly loan volume for 2017 of $250 million; also says it's launching a credit card product in July; the credit card will be offered to customers not approved for loans on the platform.  Source

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