Automotive financing platform, Lendbuzz, raised $345 million in debt and equity funding today. This includes $45 million in Series D funding, and a $300 million forward flow facility. The round was led by Group 1001 with participation from 83North, O.G. Venture Partners, and MUFG Innovation Partners.
Demonstrating ten consecutive profitable quarters, Lendbuzz reported a 135% revenue growth in 2022 and an over 80% increase in H1 2023.
Lendbuzz utilizes AI and machine learning to enhance its auto finance platform, facilitating improved credit access for car buyers. By leveraging alternative data, Lendbuzz efficiently evaluates a consumer's credit suitability, particularly catering to those overlooked by conventional banks. With bespoke software, the company optimizes loan procedures for dealerships, enabling them to cater to a broader clientele.
The investment will fuel Lendbuzz's endeavors in R&D, tech enhancements, and product innovation to better cater to consumers and dealership partners.
Headquartered in Boston, the startup was founded in 2015 by Amitay Kalmar (CEO) and Dan Raviv (CTO).
