Lendbuzz Executes $330 Million Facility

By Staff Writer March 21, 2024

Lendbuzz, an AI-based fintech company, has executed a $330 million forward flow facility with funds managed by AB CarVal, an established global alternative investment manager.

The funds raised will be used to expand the number of borrowers Lendbuzz’s proprietary AI-based auto finance platform serves. Powered by alternative data and machine-learning algorithms, Lendbuzz is able to assess the creditworthiness of consumers across the credit spectrum, many of whom are underserved by traditional banks. Additionally, Lendbuzz offers its consumers a modern, digital lending experience.

“We are excited to partner with AB CarVal, an experienced asset manager with a deep understanding of structured credit. This transaction continues our focus on diversifying our investor base and expanding our sources of committed capital,” said George Sclavos, Chief Financial Officer at Lendbuzz. “We believe our strategic relationship with AB CarVal continues to drive Lendbuzz’s mission to offer fair access to credit for underserved populations and allows us to remain at the forefront of utilizing artificial intelligence and machine learning in consumer credit.”

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Last modified on Wednesday, 27 March 2024 10:37