Lendbuzz, a consumer financial technology company providing automobile financing, closed a $150 million credit facility with J.P. Morgan.
This is the second credit facility between the J.P. Morgan and Lendbuzz in 2022 (in January, J.P. Morgan extended a line of credit to Lendbuzz), and in April 2022, J.P. Morgan served as an underwriter on a broadly syndicated ABS transaction for Lendbuzz.
“We are delighted with the confidence J.P. Morgan has shown in Lendbuzz by entering into this facility. This relationship is an important part of our growth strategy, expanding our capacity and ability to originate loans that unlock the power of financial opportunity for a growing number of consumers and dealerships,” Amitay Kalmar, CEO of Lendbuzz, said.
This new credit facility will help expand the number of borrowers served by Lendbuzz’s AI-based auto finance platform.
