Online Lender Avant Raises $325 Million as JPMorgan Invests
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Avant Inc., the startup lender for borrowers with less-than-stellar credit, raised $325 million of equity in a funding round led by private-equity firm General Atlantic that also included JPMorgan Chase & Co.
Balyasny Asset Management and Tiger Global Management LLC also are investing in the round, which brings the company’s total equity raised to $659 million, according to Carolyn Blackman, a spokeswoman for Chicago-based Avant. She declined to discuss the venture’s valuation, which Fortune reported is more than $1 billion.