In less than 30 months marketplace lender, Avant has hit the $1 billion mark in loan originations.
CEO Al Goldstein credits Avant’s success to an expanding client base and simplified customer experience.
“We are currently at 200,000 customers and growing each day,” Mr. Goldstein said in a release. “What is unique about our product is that we cater to the middle class. We are one of the only marketplace lending platforms in the space focused on enhancing the borrowing experience for the everyday consumer and tailoring our products to fit each consumer’s individual financial situation.”
Quick yet accurate is the marketplace lending maxim and Avant is no different in their effective use of big data and machine-learning algorithms that have shortened many funding decisions to real-time responses.
This success has enabled Avant to grow from three co-founders in 2013 to what is expected to be 1,000 employees in three locations on two continents by the end of 2015.
Avant was also selected as one of Forbes Next Billion Dollar Startups.
Avant has secured $1.4 billion in funding and counts Tiger Global Management, August Capital, Victory Park Capital, Peter Thiel, KKR, DFJ Growth and RRE Ventures among its investors.