The acquisition of Zero Financial and its neobank, Level (plus its banking app assets), will give Avant the ability to offer an ecosystem of banking and credit product offerings through one digital platform. Those offerings include deposits, personal loans, credit cards, and auto loans.
Avant uses AI-driven data points to determine credit risk. With this acquisition, that lens will be expanded with data, such as a deposit customer’s cash flow, how they manage their finances and whether they pay their bills on time.
Financial terms of the deal weren’t disclosed other than the fact that the acquisition was completed with a combination of cash and stock.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright