Marketplace lending platform Avant is expanding into Canada.
Avant’s launch in Canada marks one of the first major US lending platforms entering the Canadian market. Avant will operate under the AvantCredit name in Canada and consumers will be offered personal loans up to $15,000. Loans are currently available to consumers residing in Ontario and British Columbia.
“Our mission is to lower the costs and barriers of borrowing for middle-income consumers around the world,” says Al Goldstein, CEO of Avant. “Too few consumers have reliable access to responsible credit. Avant is addressing this void in the marketplace and creating more accurate credit profiles of consumers through big data and machine-learning. We are fulfilling an unmet need among the middle class which has spurred Avant’s exceptional growth.”
Branching into Canada is the latest landmark for Avant as the company continues to scale.
“Our presence in Canada provides more consumers with access to affordable consumer loans,” adds Goldstein. “On a global scale, we plan to launch another international geography and add new financial products to the Avant brand.”
Founded in late 2012, Avant grew from a three-man startup to an organization with more than 700 employees.