Fundz

Webbank Invests $250 Million In Avant To Support Growth Of Credit Card Program

PRIVATEJul 14, 2022

Amount Raised

$250 Million

Round Type

Funding Round

ChicagoInformation TechnologyFinancial ServicesMobileCommerce And ShoppingArtificial IntelligenceLending And Investments

Description

WebBank announced today it has committed to invest up to $250 million in the obligations of a securitization structure sponsored by Avant that are secured by credit card receivables. The investment will be used to meet the continuing demand and growth of the Avant® MasterCard® Credit Card issued by WebBank. WebBank’s investment will be applied over a three-year revolving term.

Who else raised in Financial Services and Mobile around the same time

Companies in the same sectors as Avant that raised within 45 days of this round, from Fundz verified event records.

  • Mural raised $5.6M (Funding Round) on August 23, 2022.
  • Faraday Future Intelligent Electric raised $600M (Funding Round) on August 16, 2022.
  • Faraday Future Intelligent Electric raised an undisclosed amount (Funding Round) on August 15, 2022.
  • Reorg raised an undisclosed amount (Corporate Round) on August 1, 2022.
  • Reltime raised $50M (Funding Round) on July 27, 2022.
  • Residently raised $5.9M (Funding Round) on July 21, 2022.

Who to call at Avant, and when

A new round usually means Avant is about to hire and buy. The teams that reach out first get the meeting.

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Company Information

Company

Avant

Location

222 W Merchandise Mart Pl

Chicago, Illinois, United States

About

Avant is dedicated to building premier digital banking solutions for the middle class through a combination of technology, analytics and superior customer service. Since 2012, Avant has connected more than 2 million customers to over $7.5 billion in loans and 1 million credit cards. A high growth financial technology company, Avant has been featured in The Wall Street Journal, The New York Times, TechCrunch, Fortune, Bloomberg, and has raised over $600 million of equity capital. Do you want to join a rapidly ascending FinTech company and drive its next phase of growth? If so, Avant is looking for you. The financial marketplace continues to evolve every day as Americans demand better, smarter products that help them get ahead in life. We recently expanded our product suite with the release of the Avant Auto Refinancing product and a Mobile Deposits product is on the way—and what comes next all depends on what we put our minds to, together. That's where you come in. We need creative, driven problem-solvers who want to innovate new ideas that meet the needs of our customers. If you're ready to grow your skills, build your career and have fun, get in touch.

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Related People

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Verified contactsAl, Co-Founder, Chairman & CEO hidden hidden hiddenSee plans and pricing
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Avant raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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