Author Topic: Avant acquires ReadyForZero  (Read 3533 times)


jefflunt

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Re: Avant acquires ReadyForZero
« Reply #1 on: April 04, 2015, 02:36:58 AM »
I applied for a developer position with this company about a year ago. I might be wrong, but I thought they were only about 40 employees at the time. Their offices definitely weren't large enough to even accommodate 100 people at the time. This article puts them at 640 employees now, and their jobs listing page is huge. Wow.

https://www.avant.com/jobs

I thought they were pretty fascinating, but possibly dangerous. They do sub-prime lending, but claim to be able to make it work by having tons of data and huge amounts of underwriting data points that their competitors didn't have. The main difference between them and LC or Prosper was that they were underwriting and issuing the loans directly, themselves.
« Last Edit: April 04, 2015, 02:41:08 AM by jefflunt »

Fred93

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Re: Avant acquires ReadyForZero
« Reply #2 on: April 04, 2015, 03:18:28 AM »
... but claim to be able to make it work by having tons of data and huge amounts of underwriting data points that their competitors didn't have.

I have never met an alternative lender (P2P guy, marketplace lender, whatever) who did not make this claim.

nonattender

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Re: Avant acquires ReadyForZero
« Reply #3 on: April 04, 2015, 06:01:15 PM »
... but claim to be able to make it work by having tons of data and huge amounts of underwriting data points that their competitors didn't have.

I have never met an alternative lender (P2P guy, marketplace lender, whatever) who did not make this claim.

The funny part of this is that government regulators are starting to overhear these marketing pitches (and also believe them) and think
that, hey, sure, they can measure Facebook likes and "social media datapoints" now, so, we can implement a rate cap on their industry!

Careful, boys...
A little nonsense now and then is relished by the wisest men.