Some people have sub-par credit scores, and find it challenging to secure a bank loan. But online lending is opening up avenues for lending even for those who don’t have the best credit.

The online lending start up Avant intends one day to be “the Amazon of financial services,” according to company founder Al Goldstein, quoted by Bloomberg. So far Avant seems to be well on its way: the company is the first online lender to hand out $1 billion in loans.

Many people with sub-par credit who cannot secure a bank loan have been funded by Avant, which specializes in supporting what Goldstein calls “the underbanked middle class.” With the company’s app, loan applicants can apply for money as easily as hailing a car from a ride sharing company, and receive cash as quickly as the next day.

Avant has raised $325 million in funding and is valued at about $2 billion.

With several companies offering online lending, Avant has stiff competition. In fact, Wall Street is investing so much into the sector that today, many so-called “peer-to-peer” lenders are actually backed by big banks or hedge funds.

Goldstein previously founded the payday loan company Check Giant, and found that the company website brought in more business than the brick-and-mortar stores. After transitioning to online sales, he changed the name of the company to CashNetUSA, and eventually sold the business for $250 million.

Goldstein says his company’s algorithm can identify applicants who will pay off loans, enabling them to make loans that other firms have passed up. With two interns he brought from CashUSA, Goldstein created the Avant system, which takes into account many issues that could impact an applicant’s ability to repay a loan. Their system looks at more than 1,000 potential factors, twenty times more than most competing lenders assess.