About

Avant provides online lending services, focusing on personal loans and credit cards. Customers can apply for personal loans ranging from $2,000 to $35,000 and credit cards with limits between $300 and $1,000. The application process is entirely online, allowing for quick approvals and a transparent experience. Avant's loans come with interest rates between 9.95% and 35.99% APR, and the company earns revenue through these interest rates and associated fees. What sets Avant apart from competitors is its user-friendly application process, fast approval times, and strong customer support. The goal of Avant is to make borrowing more accessible and affordable, helping individuals secure the funds they need while also providing resources for financial education to assist in credit building.

Simplify's Take

What believers are saying

• Avant's recent $250 million funding from Ares Management provides significant capital for expansion and innovation.
• The acquisition of ReadyForZero bolsters Avant's smart lending platform, potentially improving customer experience and operational efficiency.
• Avant's strong year-over-year revenue growth of 96% in Q2 FY23 indicates robust financial health and promising growth prospects.

What critics are saying

• The high interest rates, ranging from 9.95% to 35.99% APR, could deter potential customers and attract regulatory scrutiny.
• The competitive landscape of online lending is fierce, with numerous fintech companies vying for market share, which could impact Avant's growth.

What makes Avant unique

• Avant offers a fully online lending platform with fast approval times, setting it apart from traditional lenders who often have slower, more cumbersome processes.
• The company's focus on transparency and not affecting credit scores during eligibility checks provides a user-friendly experience that builds trust with customers.
• Avant's strategic partnerships, such as the co-branded MLS Forward Credit Card, enhance its market presence and diversify its product offerings.

Help us improve and share your feedback! Did you find this helpful?

YesNo