Chicago based online lender Avant has raised $325m of private financing, led by General Atlantic Partners. Valuation on the deal is $2bn, nearly double the valuation it received in a fundraising round a year ago. Despite concerns about competition and regulation, The company currently has about 750 employees, most of whom work to service the loan.
Avant Inc., an online lender that focuses on borrowers with lower credit scores, has raised $325 million in a fundraising round that values the company at nearly $2 billion, according to people familiar with the deal. The funding round is being led by General Atlantic LLC, the Chicago-based company said. The valuation the private company achieved is roughly double the valuation it saw in a fundraising round a year ago. The...
http://www.wsj.com/articles/funding-deal-values-avant-at-nearly-2-billion-1443568252
