CHICAGO, Jan. 11, 2022 /PRNewswire/ — Avant, a leading financial technology company that gives non-prime consumers access to the financial solutions they deserve, announced today that it has surpassed one million customers for the Avant Credit Card, issued by WebBank. By filling a market gap and providing access to transparent, affordable credit options to consumers traditionally underserved by the financial services marketplace, the number of Avant Credit Card cardholders grew 145% in 2021.
“The positive reception to the Avant Credit Card demonstrates the value that Avant brings to the market,” said Debtosh Banerjee, senior vice president of Credit Card for Avant. “We will continue to bring more value to our customers, providing access to financial products that have traditionally only been offered to a limited affluent customer segment. We take the trust of our customers seriously and will continue to work hard to provide them with the best experience. The Avant Credit Card being named as the third fastest-growing card business in the U.S. by Nilson was a great recognition. We believe that the opportunity to support underserved non-prime customers is significant, and we look forward to achieving new heights this year.”
The Avant Credit Card offers competitive rates and a quick and easy application process, which has been well received by non-prime consumers over the years. By establishing this ease-of-use as a standard practice, Avant creates an open path for those who previously may not have had positive experiences with financial institutions. Avant’s rapid growth is a testament to the company’s continued investment in product, platform and marketing. With innovative technology and proprietary analytics, Avant has been able to meet the expanding needs of an underserved market.
“We’ve seen incredible growth since launch of the Avant Credit Card in 2017, and we’re honored to have empowered so many people on their financial journeys,” says Matt Bochenek, CEO of Avant. “Every consumer deserves access to innovative financial solutions, and it’s our mission to provide that for them. We’re excited and eager to continue hitting milestones like this one.”
The million-customer milestone comes on the heels of the Avant Banking launch, which is the most recent addition to Avant’s expanding product portfolio. To learn more about the Avant Credit Card, visit https://www.avant.com/credit-card/.
Avant provides access to a full ecosystem of digital financial products, including personal loans, credit cards, mobile banking and auto refinance, to everyday American consumers. Through a combination of technology, analytics, and superior customer service, Avant gives underserved and unbanked consumers access to credit with innovative products that simplify and improve their financial journeys. Since 2012, Avant has connected nearly 2 million customers to $7.5 billion in loans and over 1 million credit cards. A high-growth financial technology company, Avant has been featured in The Wall Street Journal, The New York Times, TechCrunch, Fortune and Bloomberg, and has raised over $650 million of equity capital. For more information on Avant, visit www.avant.com.
Avant, LLC is a financial technology company, not a bank. Banking services are provided through Evolve Bank & Trust. Avant-branded credit products are issued by WebBank, Member FDIC.
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