Lendbuzz Closes $100 Million Warehouse Facility With Mizuho Americas
BOSTON–(BUSINESS WIRE)–Lendbuzz, an AI-based fintech company that helps consumers obtain better access to credit when purchasing a vehicle, announced today that it has closed a $100 million warehouse facility with Mizuho Americas.
Lendbuzz focuses on assessing the creditworthiness of consumers across the credit spectrum, many of whom are underserved by traditional banks, utilizing its proprietary AI-powered solution, and offering its consumers a modern, digital lending experience.
“We are excited to partner with Mizuho, further expanding and diversifying our sources of committed capital,” said George Sclavos, Chief Financial Officer of Lendbuzz. “We look forward to continuing to grow our relationship with a global bank such as Mizuho as a trusted advisor and important provider of capital.”
“Mizuho is proud to support Lendbuzz in financing its strategic growth by providing new pools of capital to fund its loan operations” said Diane Ferguson, Head of Financial Institutions, Investment & Corporate Banking at Mizuho Americas. “We are honored to add market leader Lendbuzz to the ranks of our client roster.”
About Lendbuzz
Lendbuzz is an AI-based financial technology company that helps consumers obtain better access to credit when purchasing a vehicle. Powered by alternative data and machine learning algorithms, Lendbuzz can assess the creditworthiness of consumers with limited credit history—a group underserved by traditional banks. Through our auto dealership partners, Lendbuzz offers consumers attractive financing solutions while opening up opportunities for those dealerships to serve a more diverse customer base. Lendbuzz is headquartered in Boston, Massachusetts and was founded in 2015.
About Mizuho
Mizuho Financial Group, Inc. is the 15th largest bank in the world as measured by total assets of ~$2 trillion, according to S&P Global 2022. Mizuho’s 60,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 800 offices throughout the Americas, EMEA, and Asia.
Mizuho Americas is a leading provider of corporate and investment banking, capital markets, equity and fixed income sales & trading, derivatives, FX, custody, and research to corporate, private equity, and institutional clients in the US, Canada, and Latin America. Through its acquisition of Greenhill, Mizuho provides M&A, restructuring, and private capital advisory capabilities across Americas, Europe, and Asia. Mizuho employs approximately 3,500 professionals, for more information visit www.mizuhoamericas.com.
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