AI fintech company Lendbuzz completes $262 million asset-backed securitization

Lendbuzz, an AI-based US fintech company that helps consumers obtain better access to credit when purchasing a vehicle, has closed a $262 million securitization collateralized by a pool of auto loans made to obligors and secured by new and used automobiles, light duty trucks, and vans.

J.P Morgan Securities LLC acted as lead bookrunner and structuring agent, with Goldman Sachs & Co. LLC, MUFG and RBC Capital Markets, LLC as joint bookrunners; Mizuho and Regions Securities LLC acted as co-managers.

“We are thrilled to see our ABS program continue to grow with strong execution and a growing, committed investor base” said George Sclavos, Chief Financial Officer at Lendbuzz. “The program continues to attract new investors with each transaction, underscoring investment community confidence in our offerings.”

This latest securitization is Lendbuzz’s ninth public securitization since launching the program in late 2021. To date, the company has completed over $1.9 billion of asset-backed securitizations and remains committed to growing the program as part of its diverse funding strategy.