Lendbuzz, an AI-based fintech company specializing in vehicle financing, has successfully closed a $266 million asset-backed securitization, designated “LBZZ 2025-2,” collateralized by a pool of auto loans.
The LBZZ 2025-2 securitization issued five classes of notes: Class A-1, Class A-2, Class B, Class C, and Class D. These notes received ratings from S&P Global Ratings (S&P) and Kroll Bond Rating Agency (KBRA) as K1+/NR, AAA/AA, AA-/AA-, A-/A-, and BBB/NR, respectively.
Goldman Sachs & Co. LLC served as the lead bookrunner and structuring agent for the transaction. J.P. Morgan Securities LLC, Mizuho, and RBC Capital Markets, LLC, acted as joint bookrunners, with MUFG and Regions Securities LLC participating as co-managers.
George Sclavos, Chief Financial Officer at Lendbuzz, stated, “We are proud to have closed another successful transaction that deepens our access to diverse funding sources. Our ability to continue to grow our program is a testament to the strength of our investor base and a powerful testament to our investors’ confidence in the performance of our credit model.”
This latest securitization contributes to Lendbuzz’s total publicly syndicated asset-backed securitizations, which now exceed $2.1 billion. The company intends to continue expanding this program as part of its broader funding strategy, aiming to provide fair access to credit for consumers with limited credit histories, a demographic often underserved by traditional financial institutions.
Founded in 2015 and headquartered in Boston, Massachusetts, Lendbuzz utilizes alternative data and machine learning algorithms to assess creditworthiness, enabling its auto dealership partners to offer financing solutions to a more diverse customer base.