Webbank Invests $250 Million In Avant To Support Growth Of Credit Card Program
07/14/22, 1:06 PM
Location
Money raised
$250 million
Industry
lending and investments
commerce and shopping
financial services
mobile
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.
Company Info
Location
chicago, illinois, united states
Additional Info
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.