Avant , a credit-first financial technology company that provides access to financial solutions to underserved non-prime consumers, has secured USD 250 million of corporate debt. This funding follows a USD 250 million securitisation in September and several other success markers in 2022.

In January, the Avant Credit Card, issued by WebBank, surpassed one million customers. In August, the financial technology company unveiled a new multi-year exclusive partnership with Major League Soccer (MLS) for a co-branded fan affinity credit card that will be powered by Avant and issued by WebBank. Avant's September securitisation brought the total amount of asset-backed debt financing commitments secured by Avant in 2022 to USD 1.

1 billion and Avant’s total commitments to over USD 1. 6 billion to support its consumer credit portfolios. These commitments illustrate Avant's ability to successfully navigate economic cycles and increase the resiliency of Avant's funding profile.

To date, Avant has provided access to over USD 9 billion in credit serving almost three million customers. FT Partners served as exclusive strategic and financial advisor to Avant and its Board of Directors on this transaction. Avant in recent news In April 2021, Avant has acquired Zero Financial and its neobank brand, Level, to further its mission of becoming a digital bank for the masses.

The acquisition of Zero Financial and its neobank, Level (plus its banking app assets), gave Avant the ability to offer an ecosystem of banking and credit product offerings through one digital platform. Those offerings include deposits, personal loans, credit cards, and auto loans. Avant uses AI-driven data points to determine credit risk.

With this acquisition, that lens will be expanded with data, such as a deposit customer’s cash flow, how they manage their finances and whether they pay their bills on time. In December 2021, Avant has announced the official launch of Avant Banking. The launch of Avant Banking expands the firm’s financial product portfolio of personal loans, credit cards and auto refinance.

This announcement has come after the fintech platform’s acquisition of Zero Financial, and its virtual banking app, Level, in April 2021. The solution was established with a transparent fee structure, which means that there are no monthly or hidden charges, like maintenance / foreign transaction fees. Clients also get fraud protection and are not financially obligated if their card gets compromised (terms may apply) and no minimum balance is needed.

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