Company Description

Our mission is to offer fair access to credit for underserved populations. We are a financial technology company that utilizes artificial intelligence, or AI, and machine learning algorithms to better assess consumer credit risk and expand access to credit. We seamlessly process large sets of data through advanced computational approaches to more accurately predict a consumer’s creditworthiness. Our business benefits both consumers through expanded access to credit, and auto dealerships via increased vehicle sales. Our founders immigrated to the U.S. for graduate school. Upon their arrival, due to their lack of a credit history in the U.S., they could not access basic consumer credit products such as a credit card or an auto loan. Seeing a clear market opportunity to solve this problem using their background in financial services, computer science, and AI, they launched Lendbuzz in 2015 with a focus on auto finance for underserved populations. Obtaining an auto loan has historically relied upon a traditional, paper-based process. The experience varies in complexity based on a consumer’s creditworthiness. Non prime consumers are typically required to complete a lengthy and cumbersome process. Further, lenders using traditional underwriting approaches often misprice those with limited to no traditional credit history, resulting in higher rates and unattractive terms. This negatively impacts the consumer experience and dealership sales. Our proprietary AI-powered solution efficiently analyzes thousands of data points to underwrite underserved consumers and drive credit outperformance. We serve consumers with thin and no credit files, or credit invisibles, and those traditionally called near prime (consumers with VantageScores® of 601-719). We estimate that, based on Oliver Wyman’s 2022 Financial Inclusion and Access to Credit report and VantageScore’s 2023 CreditGauge report, these groups collectively represent a market of approximately 119 million people in the U.S. or approximately 46% of the total U.S. adult population. We utilize our data and technology to build more robust financial profiles of these consumers, enabling us to more accurately identify those expected to generate better credit performance. We believe our machine learning models, combined with the use of alternative data and data-driven credit decisioning, differentiate us from traditional lenders. In addition to providing fair access to credit, we offer consumers a modern, digital lending experience. Friction is reduced for consumers as we engage with them through an entirely mobile-enabled digital process. We acquire consumers through the U.S. auto dealership market, which serves as a scalable and efficient go-to-market channel and minimizes our customer acquisition costs. By expanding access to credit and providing a superior borrowing experience for near prime consumers and credit invisibles, we help our dealership partners expand their pool of potential consumers. Additionally, we have streamlined the loan application experience for dealerships through our proprietary dealership portal. As a result, our dealership partners are loyal, as demonstrated by our 100%+ net dollar retention rate, which we have achieved consistently for 17 consecutive quarters as of June 30, 2025, historically leading to a strong source of recurring revenue. We have grown rapidly since our founding and believe we have significant growth potential, all within our core product. The U.S. auto dealership market is highly fragmented, with over 55,000 auto dealerships, according to data from 2022 from the National Automobile Dealers Association, or NADA, and the National Independent Automobile Dealers Association, or NIADA. For the quarter ended June 30, 2025, we partnered with 2,164 Active Dealerships and have the opportunity to expand our presence in our existing geographic footprint, adjacent geographies, and new regions in the U.S. We expect to continue to expand our network of dealership partners and increase our access to the approximately $704 billion annual auto loan origination market in the U.S., according to the Federal Reserve Bank of New York. Our financial profile has been strong and has shown both rapid growth and profitability. Our efficient go-to-market strategy and low credit losses have driven attractive unit economics, which we believe will continue to drive increased profitability as we grow. We grew Aggregate Originations and Total revenue, net by compounded annual growth rates of approximately 74% and 92%, respectively, from 2019 to 2024. --- We were incorporated in the State of Delaware on September 9, 2015. Our principal executive offices are located at 100 Summer St., Boston, Massachusetts, 02110 and our telephone number is (857) 999-0250. Our website address is www.lendbuzz.com.