AI-powered FinTech Lendbuzz announces $262m securitization

AI-powered FinTech Lendbuzz announces $262m securitization

Lendbuzz, an AI-based FinTech firm, has successfully closed a significant $262m asset-backed securitization.

The securitization is backed by a diverse portfolio of auto loans secured by new and used vehicles, including light duty trucks and vans.

This funding initiative was managed with Goldman Sachs & Co. LLC serving as the lead bookrunner and structuring agent. J.P. Morgan Securities LLC and RBC Capital Markets, LLC also contributed as joint bookrunners, while Mizuho, MUFG, and Regions Securities LLC participated as co-managers.

Lendbuzz operates in the financial technology sector, using advanced AI and machine learning algorithms to enhance credit accessibility. The company focuses on consumers with limited credit histories, providing them with more favorable loan conditions through partnerships with auto dealerships.

Chief Financial Officer at Lendbuzz, George Sclavos, expressed enthusiasm about the transaction, stating, “We are thrilled to have successfully executed our largest ABS transaction to date with extremely strong overall subscription levels.

“The depth of interest from investors speaks to the strength of our credit story and collateral performance. We have added 27 new investors to the platform this year alone.”

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