Lendbuzz secured more financial resources for the third month in a row.

BHI, the U.S division of Bank Hapoalim and a full-service commercial bank, announced on Tuesday that it has entered into an agreement with Lendbuzz to upsize the existing $20 million facility announced in March 2023.

According to a news release, the agreement now encompasses a $50 million revolving line of credit, providing Lendbuzz with additional working capital for general corporate purposes.

In June, Lendbuzz announced that it has closed a $100 million credit facility with MUFG in a development that arrived about a month after the 2023 Emerging 8 honoree closed a $100 million warehouse facility with Mizuho Americas.

BHI has enjoyed a long-standing relationship with Lendbuzz, having served as the agent of two of Lendbuzz’s early warehouse facilities in 2018-2020.

“BHI has intuitively understood our mission from the very beginning and continues to serve as an active partner in Lendbuzz’s journey,” Lendbuzz chief financial officer George Sclavos said. “We are excited for this opportunity to deepen our relationship as we continue to utilize our technology to deliver lending opportunities to our customers and drive future growth.”

Lendbuzz continues to broaden its reach, signing new partnerships with dealerships and expanding last year into Texas, New Jersey, northern California and Arizona.

Powered by alternative data and machine learning algorithms, Lendbuzz’s proprietary artificial intelligence-based auto finance platform can offer consumers across the credit spectrum a modern, digital lending experience.

Potential customers include individuals with no credit file, a thin credit file or those classified as near-prime.

“Lendbuzz epitomizes the capacity that technology has to make a positive impact on people’s lives,” said Gal Defes, first senior vice president and head of international and tech banking at BHI. “Lendbuzz’s AI risk analysis is helping to facilitate greater access to customers who might have otherwise been unfairly overlooked for fair financing.

“And in turn, we’re proud to help provide the company with attractive financing opportunities so that they can continue scaling their operations and impact,” Defes went on to say.