Group 1001 backs Lendbuzz

Lendbuzz, a fintech firm using advanced tech for auto loans, has secured $345 million in funding, comprising $45 million in equity and a $300 million forward flow facility.

Group 1001 spearheaded the investment, with contributions from 83North, O.G. Venture Partners, and MUFG Innovation Partners.

The funds will drive product innovation, R&D, and tech enhancements.

CEO Amitay Kalmar highlighted Lendbuzz’s pioneering AI role in credit underwriting, emphasizing their commitment to underserved communities. With consistent growth, Lendbuzz reported a 135% revenue surge in 2022 and has already achieved over 80% growth in 2023’s first half.