FORT WORTH, Texas -

Investment firms continue to push funds into the auto finance space.

Not long after defi SOLUTIONS landed $55 million, Innovate Auto Finance — a purchaser and servicer of automobile loan portfolios and provider of line-of-credit financing — said it has been retained by a multinational investment firm to source $50 million worth of subprime auto installment contract portfolios for the firm to review for purchase.

Executives highlighted Innovate will source, perform due diligence, underwrite, process and ultimately service all portfolios that the investment firm client chooses to acquire.

“We are excited to provide this full-service turnkey solution that leverages our near-decade of experience successfully acquiring subprime auto loan portfolios,” said Preston Miller, president and chief executive officer of Innovate Auto Finance.

“Now on our third generation, our highly predictive credit scorecard and pricing models are tremendous assets to assist investment firms wanting exposure in subprime auto finance,” Miller continued.

“In addition, our servicing and auto remarketing companies — Loan Portfolio Servicing (LPS) and Caprock Auto Remarketing — bring more than 10 years of positive results to ensure our clients maximize their profits from this investment,” Miller went on to say.

For more information about Innovate’s services, including the turnkey portfolio investment program, contact Scott France at scott.france@innovateauto.com or (817) 471-1182.