AvantCredit Raises $20 Million

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AvantCredit said Wednesday that it has raised $20 million in series B equity round led by August Capital and Victory Park Capital.

The analytics-driven personal lender says it will use the money to create better personal financial management tools for borrowers.

In February, AvantCredit raised $9 million and got a $25 million line of credit.

"We want customers to see the impact that their loan on their cash flow situation for the next three or six months," says John Sun, AvantCredit's chief technology officer and co-founder.

The funding brings AvantCredit's total amount raised to roughly $54 million, Sun says.

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