BHI, the U.S division of Bank Hapoalim and a full-service commercial bank, entered into an agreement with Lendbuzz to upsize the existing $20 million facility announced in March 2023 to now encompass a $50 million revolving line of credit. This $50 million line will provide Lendbuzz with additional working capital for general corporate purposes.
“Lendbuzz epitomizes the capacity that technology has to make a positive impact on people’s lives,” Gal Defes, first senior vice president and head of international and tech banking at BHI, said. “Lendbuzz’s AI risk analysis is helping to facilitate greater access to customers who might have otherwise been unfairly overlooked for fair financing. And in turn, we’re proud to help provide the company with attractive financing opportunities so that they can continue scaling their operations and impact.”
“BHI has intuitively understood our mission from the very beginning and continues to serve as an active partner in Lendbuzz’s journey,” George Sclavos, chief financial officer at Lendbuzz, said. “We are excited for this opportunity to deepen our relationship as we continue to utilize our technology to deliver lending opportunities to our customers and drive future growth.”
