Avant acquires Zero Financial, Inc. and its neobank, Level
CHICAGO, April 7, 2021 / PRNewswire / – Before, a leading financial technology company that provides underserved consumers access to the credit they deserve, today announced that it has completed the acquisition of Zero Financial, Inc. and Level, the company’s neobank and advanced design banking application assets. After passing the 1.5 million customer milestone in 2020, the acquisition of Level will allow Avant to expand its reach by delivering the best digital banking experiences to U.S. consumers.
“The acquisition of Level is an important part of our strategy to provide underbanked and unserved consumers a complete ecosystem of transparent financial products and services with great features and rewards, all in one mobile app,” said James Paris, CEO of Avant. “Expanding our product portfolio allows us to serve even more people, providing every consumer with access to innovative, reward-based products to simplify and improve their financial journey. We look forward to building on this acquisition and continuing to offer new products to our growing customer base. “
Avant is built on a robust data infrastructure, AI-powered ecosystem, and customer insights needed to deliver personalized experiences and the right offer, at the right time. With bespoke products and experiences that customers can trust, Avant is at the forefront of the industry at the intersection of banking and technology, breaking the single-product fintech mold and leading the charge of redefining the relationship that Americans keep up with their finances.
Focused on customer experience, Level’s fully digital branchless platform offers a better way to do banking and is highly rated, with solid reviews for no hidden fees, ease of use and value for money. customers. Level offers perks including cash back on debit card purchases, competitive APY on deposits, early access to paychecks, and no hidden fees, all of which are especially beneficial for consumers on the path to financial freedom. . Its proprietary, modern and feature-rich banking platform was built in-house by a team of talented engineers, product designers and others who will join Avant and continue development, fully integrating deposits into the suite of Avant’s digital banking and credit products.
“Avant shares our mission to challenge the status quo by delivering innovative financial services products to consumers who otherwise might not be able to access them,” said Bryce Galen, co-founder and CEO of Zero Financial. “We are excited to continue this journey as part of the Avant team and to work together to provide new ways for consumers to engage with their finances.”
About Avant Avant is dedicated to delivering the best digital banking services to everyone through a combination of technology, analytics and superior customer service. Since 2012, Avant has connected more than 1.5 million customers to $ 7.5 billion in loans and 400,000 credit cards, increasing its number of credit card users by 170% over the past two years. A high-growth fintech company, Avant was named one of the Best Personal Loans for 2021 and one of the Best Startup Employers in the United States by Forbes, as well as one of Credit Karma’s Top Five Personal Loans. for a large purchase. Avant has been featured in The Wall Street Journal, The New York Times, TechCrunch, Fortune and Bloomberg, and has raised over $ 600 million in equity. Visit www.avant.com for more information.
Media contact: Jenn Pratt Keeton PR 404.655.2273
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