Lendbuzz signs $150 million credit facility with JPMorgan

By William Gullotti

Buffalo, N.Y., Nov. 1 – Lendbuzz closed a $150 million credit facility with JPMorgan, according to a press release on Tuesday.

According to the release, the deal marks the second facility between the two in 2022, with the first being a line of credit extended by JPMorgan in January. JPMorgan also acted as underwriter for a syndicated ABS transaction in April.

“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,” said Amitay Kalmar, chief executive officer of Lendbuzz, in a news release.

Further details, such as tenor and interest rate, were not disclosed in the press release.

Based in Boston, Lendbuzz is an AI-based auto finance platform focused on serving consumers with limited credit history.

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