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Lendbuzz Secures $150 Million Credit Facility From J.P. Morgan

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BOSTON–()–Lendbuzz, a fintech company that is disrupting the car financing market using AI and machine learning algorithms, announced today that it closed a $150 million credit facility with J.P. Morgan.

This is the second credit facility between the investment bank and the financial technology company 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. The $150 million credit facility timing and terms—coming in the midst of tremendous shifts in both the automotive retail and financial industries—are advantageous to Lendbuzz and its mission to develop innovative technologies that provide underserved borrowers with better access to credit.

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…

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