Avant moves headquarters to catch up with explosive growth

Tessa McLean

File 47994

One of Chicago's fastest growing startups is leaving River North. But, they're not moving too far.
 
Avant has signed a new, 80,000 square foot office space at 222 N. Lasalle, just across the River. 
 
The online lender has already outgrown their current 30,000 square feet at 640 N. LaSalle St. in River North, and will need the new office space as they continue to hire 300 new employees by the end of the year.
 
"It's a historic Chicago building with great ownership and management and a large square footage, which is very important to create a very collaborative environment," CEO Al Goldstein said. "It is also close to River North where a lot of our people live and our Global Operations Center at 225 W. Randolph."
 
Avant will continue to operate their space at 225 W. Randolph, which acts as its operations center. 
 
Avant was represented in the transaction by Brad Serot, Paul Reaumond and Jarrett Annenberg of CBRE.
 
"They chose the building because of the large floorplates, close proximity to River North and public transportation to make sure they continue to hire and retain the best and brightest," Serot said. "The rapid growth of Avant is so exciting and amazing for Chicago! I am fortunate to be part of the team that helped them find a space that will accommodate them now and for the future growth of the company."
 
All this growth and change is nothing new for the FinTech startup, which rebranded to "Avant" in March in conjunction with the announcement of their acquisition of financial software provider ReadyForZero and expansion into the L.A. area. Avant has raised over $1 billion in funding to date, with investors like Peter Thiel and RRE Ventures among its backers. The company plans to expand to two more countries, in addition to the United Kingdom, as well as offer two new products this year. 
 
This isn't the first tech company to migrate over the river — One North Interactive signed a 17,000-square-foot lease earlier this year. With renovated amenities including a full service fitness center, an auditorium and lounge and the addition of two trendy eateries, perhaps 222 N. Lasalle is poised for new beginnings.
 
Have a tip for us or know of a company that deserves coverage? Email us via tips@builtin.com

 

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