WebBank has invested USD 250 million in the obligations of a securitisation structure sponsored by Avant that is secured by credit card receivables. The investment will be used to grow the Avant MasterCard Credit Card issued by WebBank.

WebBank’s investment will be applied over a three-year revolving term. WebBank is a Utah chartered Industrial Bank headquartered in Salt Lake City, Utah, and is a national issuer of consumer and small business credit products through Strategic Partner (Brand) platforms, which include retailers, manufacturers, finance companies, software as a service (SaaS) and financial technology (fintech) companies. The company engages in a range of banking activities, including consumer and commercial loan products, revolving lines of credit, credit cards, private-label card issuance, auto-refinancing and more.

The bank provides capital in the form of asset-backed lending and other credit facilities to strategic partner platforms, credit funds, and other lenders with a targeted focus on speciality finance assets.