AvantCredit Grabs $20M To Use Big Data To Assess Loans

By  |  August 14, 2013
 | 

Online lender AvantCredit has raised $20 million in a second round of funding to back its loan-assessing platform, according to VentureBeat. Advent Capital and Victory Park Capital led the round.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    AvantCredit uses big data and “machine learning” to determine lending risk, and can give issue loans of up to $10,000 in near real-time, as the source notes. The company is on track to give $2 billion in loans this year. 

    Read the full story here.


    Recommended

    empty room, lit doorway, spatial concept

    Fei-Fei Li Says AI Progress Now Depends on Physical Context

    Big Tech Faces the AI Innovator’s Dilemma.

    Same-day payday

    Same-Day Pay Becomes a Hiring Edge as Paycheck Gaps Bite

    Pay Flexibility Rises as More Workers Earn Variable Income

    See More In: