Lendbuzz is striving to modernize what it contends is an “outdated” auto-finance industry, with a focus on serving consumers who have thin or no credit history in the United States.

And its drive toward that modernization got quite a financial boost this week.

The platform based on artificial intelligence announced a $360 million investment, including $60 million in Series C equity financing led by Wellington Management joined by Goldman Sachs & Co and MUFG Innovation Partners, and $300 million in debt financing led by Goldman Sachs Bank USA.

According to a news release, the new growth capital will support the company’s fast expansion and allow Lendbuzz to further its mission of helping individuals currently underserved by the traditional credit system.

Wellington Management led the equity funding round joined by Goldman Sachs & Co and MUFG Innovation Partners, as well as existing investors including 83North, Eyal Ofer’s O.G. Tech, Arkin Holdings, Mivtach Shamir and Highsage Ventures.

Goldman Sachs Bank USA led the debt financing joined by Viola Credit.

The company, which partners with dealerships, offers an end-to-end origination and servicing platform that designed to fit into dealers’ existing F&I workflows and enable a seamless, digital experience for buyers.

“Lendbuzz was founded to expand access to credit for millions of consumers who are currently underserved by the traditional credit system,” Lendbuzz co-founder and chief executive officer Amitay Kalmar said in the news release. “This additional financing allows us to further accelerate our growth and continue improving the car purchase experience for our clients.”

Lendbuzz explained its underwriting model — powered by machine learning and proprietary algorithms — can allow the company to assess the risk of who could be creditworthy consumers who are underserved by traditional banks.

Compared to legacy underwriting systems that are based on FICO scoring and often utilize just a handful of data points, Lendbuzz said it analyzes thousands of data points — from transaction and spending patterns to education and employment history — in an effort to evaluate applicants better and more fairly.

Lendbuzz added that dealerships, in turn, are able to close additional business opportunities that otherwise would have been lost, and offer a frictionless and 100% paperless customer experience that enables real-time approval and faster funding. 

The company highlighted that it grew its contract origination run rate more than 200% year-over-year during the first half of 2021 and continues its rapid geographic expansion within the U.S. to serve more dealerships and consumers.

Lendbuzz also mentioned it doubled its headcount in the past year to more than 100 employees and is continuing to recruit.

To find out about open positions at Lendbuzz, visit