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AvantCredit Raises $20M To Grow Its Machine-Powered Online Lending Platform

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http://techcrunch.com – Online lending startup AvantCredit, which is co-founded by two YC grads who previously worked on a personal finance app but saw greater opportunity in providing loans online to middle class, near-prime lendees, has raised $20 million in a Series B equity-based funding round. The new $20 million adds to their $34 million (which included $25 million in credit facility) in funding secured back in April. AvantCredit is like a lot of other online lending platforms out there, according to co-founder and Chief Risk Officer John Sun. He explained in an interview that there are a lot of online lenders (IT news)