Lendbuzz, a Boston, MA-based AI-based auto finance platform, raised $360m in funding.
- $60 million in Series C equity financing led by Wellington Management joined by Goldman Sachs & Co and MUFG Innovation Partners, as well as existing investors including 83North, Eyal Ofer’s O.G. Tech, Arkin Holdings, Mivtach Shamir and Highsage Ventures, and
- $300 million in debt financing led by Goldman Sachs Bank USA, joined by Viola Credit.
The company intends to use the capital for continued business expansion within the U.S.
Founded in 2015 by Amitay Kalmar, CEO, Lendbuzz provides an AI-based auto finance platform that helps consumers with thin or no credit history obtain financing when purchasing a car. To this end, the company partners with auto dealerships to offer an end-to-end loan origination and servicing platform that fits into thier existing F&I workflows and enables a digital experience for buyers. Lendbuzz analyzes thousands of data points — from transaction and spending patterns to education and employment history — to more fairly evaluate applicants.
The company currently has more than 100 employees and is continuing to recruit.