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

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.

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. 

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