AvantCredit racks up $275 mln from Tiger Global and VPC

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Chicago-based online consumer lender AvantCredit said Wednesday it has raised $75 million in a Series C round led by Tiger Global Management. Also, AvantCredit has secured a $200 million credit facility led by Victory Park Capital. The funding brings the company’s total equity and debt financing to more than $300 million.

According to the firm, the capital infusion will be used for growth and product expansion.

On his firm’s continued support of AvantCredit, Brendan Carroll, a partner at Victory Park Capital, said, “With each new round of funding, AvantCredit continues its revolutionary disruption of the personal loan industry with its passionate team, industry-leading analytics and personalized online approach to borrowing.”

The company provides personal loans between $1,000 and $20,000 to qualified borrowers in nearly all 50 states.

Photo credit courtesy of Shutterstock

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