AvantCredit recently rebranded to Avant in hopes of no longer being recognized as just a lending service. The 3 year old Chicago based company wants to develop into a holistic consumer financial platform, to do this the company acquired ReadyForZero, a provider of planning software. The deal allows Avant to couple the ReadyForZero's debt management tools with its own credit monitoring service, enhancing its suite of financial products.
Two of the most exciting names in consumer lending and debt management have joined forces. San Francisco- based credit education startup ReadyForZero has been acquired by Chicago’s AvantCredit, a big data-driven platform. The companies are not revealing the financial terms of the deal... ReadyForZero had raised $4.8 million through its June 2011 Series A round, from a list of investors that includes Citi Ventures, Polaris Partners, and 500 Startups, as well as individual angels. For Avant, this acquisition is part of a concerted effort to offer more personal finance tools to its current and potential customers – middle-market consumers with FICO credit scores between 580-720 – with the goal of making them better borrowers.