Avant Credit is a private financial services and consumer finance company. It was founded in 2012 by Al Goldstein and John Sun. From its headquarters in Chicago Avant Credit’s staff of 600 works diligently to provide its worldwide customer base with lines of credit and personal loans of all sizes. For many people the process is as simple as logging on to avant.com and answering a few questions. Within a short time they can have access to the money they need to take care of unforeseen emergencies, renovate their homes, or virtually any other type of expense.
Avant has over a billion dollars in capital which it uses to run the company and offer unsecured installment loans in amounts ranging from $1,000 to $35,000. Using a unique computer modeling system to access information that’s publicly available, Avant is able to expedite the loan process and can often give people the money they need within 24 hours of receiving their application. According to company records, Avant has provided more than 175,000 loans to people in 46 states and the United Kingdom and continues to grow rapidly as more people worldwide become familiar with its services.
A Growing Leader
On Forbes’ list of America’s Most Promising Companies for 2015, Avant is ranked sixth. This comes hot on the heels of the company announcing that led by Tiger Global Management it had used a round of Series C funding to raise $75 million in the summer of 2014. The year 2015 has been filled with changes for the company. First it rebranded itself as Avant instead of Avant Credit. The company then snapped up ReadyForZero, a startup based in San Francisco which offers online tools for managing personal finances and paying off debt.
Avant is gearing up to make a serious push into the world of consumer finance. Their goal is not just to provide loans, but to provide an entire range of new products and services for its worldwide customer base. The company also estimates its workforce will increase from 600 to over 1000 by the end of 2015. The company may have shortened its name but it seems poised to lengthen its reach when it comes to its consumer finances offerings. The company’s CEO Al Goldstein was very clear in stating the company’s goal, stating that Avant wants to be able to provide everyone with access to the money they need.
What the Future Holds
The rapidly growing company’s recent actions show that it is indeed preparing itself to serve a wider, more global market. Combining its algorithms for customer evaluation and risk assessment with debt management, finance tracking, and bill payment tools, has enabled Avant to create an efficient, effective new innovative credit score monitoring system. It will make it possible to reach out to a much wider array of customers and offer them the financial services products they need to handle life’s little emergencies.