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Avant doubles down on digital banking with Zero Financial acquisition
source link: https://fintechranking.com/2021/04/07/avant-doubles-down-on-digital-banking-with-zero-financial-acquisition/
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Avant doubles down on digital banking with Zero Financial acquisition
Avant, an online lender that has raised over $600 million in equity, announced today that it has acquired Zero Financial and its neobank brand, Level, to further its mission of becoming a digital bank for the masses, TechCrunch reports.
Founded in 2012, Chicago-based Avant started out primarily as an online lender targeting “underserved consumers,” but is evolving into digital banking with this acquisition. The company notched gross revenue of $265 million in 2020 and has raised capital over the years from backers such as General Atlantic and Tiger Global Management.
Read more: TechCrunch
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