Daily News: August 21, 2014

AvantCredit Secures $200MM Credit Facility Led by Jefferies

AvantCredit, an online provider of consumer loans, announced the completion of a $200 million debt financing agreement led by investment bank, Jefferies.

The funding comes two weeks after the company announced $75 million series C funding from Tiger Global Management and a $200 million credit facility from Victory Park Capital. This additional infusion of capital brings the company’s total funding to over $500 million – making it the most funded Chicago-based company so far this year.

“This endorsement from a major global investment bank is an important milestone for AvantCredit and solidifies our position at the top of Chicago’s flourishing tech industry, all in less than two years,” said Al Goldstein, AvantCredit’s co-founder and CEO.