Chicago-Based Avant Signs New Lease for Global Headquarters
Fast-Growing Marketplace Lender to Expand to New 80,000 Square Foot Space in 2016
Jun 02, 2015, 12:00 ET
CHICAGO, June 2, 2015 /PRNewswire/ -- Avant, a premier online marketplace lending platform, has signed a long-term lease for approximately 80,000 square feet and will be moving to 222 North LaSalle in downtown Chicago. The location will serve as the new home of Avant's headquarters, which has been based in Chicago since the company was founded in November 2012.
Avant CEO Al Goldstein explains the move comes on the heels of Avant's rapid growth trajectory. "In less than three years we have grown from a three man startup to adding 670 jobs to the economy," says Goldstein. "We plan on hiring an additional 300 employees this year and by the end of 2015, expect to employ approximately 1,000 people. We look forward to creating more jobs in the future."
Avant's innovative business model is driven by big data and machine-learning algorithms that have transformed the traditional personal loan process into a streamlined, customer-friendly experience. Nearly half of applicants are approved in real-time and customers can receive funding as soon as the next business day. To date, $1 billion in loan originations have been issued through the Avant technology platform, providing funding for more than 200,000 customers.
"Avant is a company that has exhibited explosive growth and is dedicated to keeping, and creating, jobs in the Chicago community," says Brad Serot of CBRE. "Avant is a tech leader within Chicago and is strengthening the city's reputation as a major tech hub across the country."
"Chicago's talent pool, access to markets, and diverse economy make it an ideal location for corporate headquarters," adds Jeff Malehorn, President and CEO of World Business Chicago. "Avant's growth enhances the diversity of businesses in the FinTech sector for the region."
222 North LaSalle, a 26-story office tower totaling 938,300 rentable square feet offers 40,000 SF floor plates with panoramic views of the Chicago River. Amenities include valet parking garage, full service fitness center, 7,200 square-foot, state-of-the-art conference center/auditorium with capacity for 125 and an 8,000 square-foot tenant lounge, as well as the addition of two new restaurants on the main lobby - Prime & Provisions and Glazed & Infused Donut Shop.
Avant was represented in the transaction by Brad Serot, Paul Reaumond and Jarrett Annenberg of CBRE, while Tishman Speyer's Joe Gordon and Greg Tait represented building ownership. For more information about Avant, please visit www.avant.com.
About Avant
Avant is an online marketplace lending platform that is changing the way consumers obtain credit by lowering the costs and barriers of borrowing. Utilizing 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. Avant has secured more than $1.4 billion in funding to date and more than 200,000 loans have been issued through the Avant website. Avant has been featured in publications such as The Wall Street Journal, The New York Times, TechCrunch, Fortune, Bloomberg and Crain's Chicago Business and Avant was named to Forbes America's Most Promising Companies list for 2015 as well as Forbes Next Billion Dollar Startups list for 2015. Avant operates in 46 U.S. states where loans are originated by WebBank and by Avant affiliates and in the United Kingdom. Find out more at www.avant.com.
CONTACT: Carolyn Blackman, 312-763-7510, [email protected]
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SOURCE Avant