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 $216 million securitization (“LBZZ 2024-2”) collateralized by a pool of auto loans made to obligors and secured by new and used automobiles, light duty trucks, and vans.

LBZZ 2024-2 issued four classes of notes: Class A-1, Class A-2, Class B, Class C. The LBZZ 2024-2 notes have been rated by S&P Global Ratings (S&P) and Kroll Bond Rating Agency (KBRA) as NR/K1+, AA-/AAA, A-/AA and NR/A-, respectively.

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

“We are excited to have completed our second successful transaction during 2024 with continued strong investor demand,” said George Sclavos, Chief Financial Officer at Lendbuzz. “The support from our expanding investor base will help us to continue to drive profitable growth for Lendbuzz.”

This transaction is Lendbuzz’s seventh public securitization since launching the program in the fourth quarter of 2021. To date, Lendbuzz has completed more than $1.2 billion of asset-backed securitizations and remains committed to growing the program as part of its diverse funding strategy.

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.

Investors InvestorRelations@lendbuzz.com Media & Press Steve Francisco, CMO Stephen.Francisco@lendbuzz.com