CHICAGO, April 11, 2016 /PRNewswire/ -- Online lending platform Avant is pleased to announce that Raj Vora has joined Avant's Capital Markets team as the Vice President and Head of Institutional Fund Products. In his role, Raj will lead strategy for its managed investment vehicles and assist with a variety of Avant's capital raising efforts.
"We are excited to welcome Raj to the Avant team. His industry knowledge, experience and relationships will be a great asset to our capital markets efforts," said James Paris, Executive Vice President of Capital Markets and Corporate Development at Avant. "We continue to fund our growth directly from our own balance sheet as well as by using off-balance sheet strategies involving both institutional marketplace sales and managed investment vehicles. Raj's strong background and perspective will be instrumental in working with the broader investor community to secure new sources of funding."
Prior to Avant, Raj was an Executive Director in UBS Investment Bank's Private Funds Group in Chicago. In this capacity, he was responsible for leading institutional and high net worth limited partner relationships across North America. Prior to joining UBS, Raj served as Senior Vice President in the Private Equity Group at Northern Trust Alternatives, now 50 South Capital Advisors. He began his career at Goldman Sachs in New York and then joined Wind Point Partners in Chicago.
"Avant has a tremendous track record of working with top tier investors and I am thrilled to help lead Avant's robust capital markets activities," said Raj Vora. "I believe Avant's diversified funding sources and managed investment vehicles position Avant well with respect to its funding strategy and opportunity for long-term growth."
More than 500,000 loans have been issued through the Avant platform totaling more than $3 billion to date, as Avant continues to work towards its mission of serving the unique financial needs of the everyday consumer by lowering the cost and barriers of borrowing.
Avant is a fast-growing online lending platform that is lowering the cost and barriers of borrowing for consumers. Through the use of big data and machine-learning algorithms, the company offers a unique and highly customized approach to streamlined credit options. At its core, Avant is a tech company that is dedicated to creating innovative and practical financial products for all consumers. To date, Avant has secured more than $1.7 billion in funding and another $1.8 billion through its institutional marketplace. More than 500,000 loans have been issued worldwide through the Avant platform. Avant operates under the name AvantCredit in the United Kingdom. Avant has been featured in publications such as The Wall Street Journal, The New York Times, TechCrunch, Fortune, Bloomberg and Crain's Chicago Business. In 2015, Avant was named to Forbes America's Most Promising Companies list as well as Forbes list of Next Billion Dollar Startups. Find out more at www.avant.com.
CONTACT: Carolyn Blackman Gasbarra, 312-763-7510, [email protected]