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FT Partners Advises Avant on its $250 million Financing from Ares Management

Overview of Transaction

  • On December 7, 2022, Avant announced it secured $250 million of corporate debt and redeemable preferred equity from Ares Management Alternative Credit funds
  • Headquartered in Chicago, Avant is a credit-first FinTech company that provides access to innovative financial solutions, including personal loans and credit cards, to underserved non-prime consumers (1)
  • Since 2012, Avant has connected almost 3 million customers to date to $8 billion in loans and over 1 million credit cards

Significance of Transaction

  • This funding commitment, alongside Avant's September securitization which brought the total amount of asset-backed debt financing commitments secured in 2022 to $1.1 billion, illustrates the Company’s ability to successfully navigate economic cycles and increase the resiliency of its funding profile
  • Avant will use the proceeds to further fuel its credit portfolio and next-generation platform, enabling a stronger competitive advantage

FT Partners' Role

  • FT Partners served as the exclusive financial and strategic advisor to Avant
  • This transaction highlights FT Partners’ deep domain expertise in the Consumer FinTech and Lending space, as well as its successful track record generating highly favorable outcomes for its clients

(1) Avant, LLC is a financial technology company, not a bank; Avant-branded credit products are issued by WebBank