Nebula Acquires Open Lending

By Staff Writer January 07, 2020

Open Lending, LLC, a provider of lending enablement and risk analytics solutions to financial institutions, and Nebula Acquisition Corp., a special purpose acquisition company sponsored by True Wind Capital, L.P., announced that they have entered into a definitive business combination agreement. Under the terms of the agreement, Nebula will acquire Open Lending through a new Delaware holding company, which will become a publicly-listed entity with an implied estimated enterprise value at closing of approximately $1.3 billion. 

Open Lending is a lending enablement platform for the automotive finance market powered by proprietary data, advanced decisioning analytics, an innovative insurance structure and scaled distribution. The platform enables near-prime consumers, approximately 50 percent of borrowers today, to finance their vehicles at more attractive rates when compared to traditional lending alternatives, while presenting a similar risk profile to the lender as that of a prime borrower. Furthermore, Open Lending’s technology platform unlocks value for a diverse partner ecosystem, benefitting dealers, lenders, insurers and OEM’s.

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Last modified on Monday, 13 January 2020 14:11

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