Lendbuzz, an AI-based fintech company that helps consumers obtain better access to credit when purchasing a vehicle, has secured a new $400 million forward flow program with Viola Credit, a global alternative asset manager specialized in providing asset-based lending solutions to innovative technology-enabled lenders.
The new commitment represents the continuation of a longstanding partnership between the two firms, which have executed over $1 billion of financing and asset purchase transactions since 2018. This additional forward flow program will enable Lendbuzz to expand its reach and serve an even greater number of borrowers through its proprietary AI-based auto finance platform.
“We are excited to continue our long-standing collaboration with Viola Credit, a key supporter since our early days,” Amitay Kalmar, co-founder and CEO of Lendbuzz, said. “This partnership advances our mission to provide better access to credit for underserved consumers across the U.S. and allows us to remain at the forefront of utilizing AI and machine learning in consumer credit. Our proprietary technology and underwriting engines have proven to be effective and valuable for consumers across the U.S.”
“We are excited to expand our partnership with the Lendbuzz team and support the company as it continues to scale its origination business,” Ido Vigdor, managing partner of Viola Credit, said. “We are privileged to have had a front row view of the company’s growth and consistent performance since its earliest days and look forward to continuing to support the company’s origination while providing our investors with access to attractive assets that it originates.”
