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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