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Lendbuzz closes $163.15m asset-backed securitisation

By Delisha Fernandes

June 14, 2023

  • AI
  • Algorithms
  • Auto Lending
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LendbuzzLendbuzz, an AI-based FinTech company, announced that it has closed a $163.15 million securitisation collateralised by a pool of retail automobile contracts made to obligors and secured by new and used automobiles, light-duty trucks, and vans.

“The ABS markets remain active, and our platform continues to receive strong investor support,” said George Sclavos, Chief Financial Officer at Lendbuzz. “Lendbuzz is focused on a diverse liquidity strategy, and the ABS markets will remain part of that strategy. We are thankful for the continued support of our investors and look forward to broadening those relationships.”

This transaction comes during a period of robust and consistent performance for the company. It also provides a foundation for expanding the company’s capacity and ability to grow the number of borrowers served by its unique AI-based auto finance platform.

Lendbuzz is an AI-based FinTech company that helps consumers obtain fair access to credit when purchasing a vehicle. Powered by alternative data and machine learning algorithms, Lendbuzz can assess the creditworthiness of consumers with limited credit history—a group underserved by traditional banks. Through the auto dealership partners, the company offers consumers attractive financing solutions while opening up opportunities for those dealerships to serve a more diversified customer base.

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