June 19, 2024
News

Japan’s largest bank invests $100M in Lendbuzz

AI-powered subprime auto lender Lendbuzz has secured a $100 million credit facility with the Mitsubishi UFJ Financial Group to expand origination volume. The funding from Mitsubishi UFJ Financial Group (MUFG) will enable Boston-based Lendbuzz to boost loan originations for underprivileged consumers, as stated in a release from the lender on June 4. MUFG, headquartered in Tokyo, has made an investment in Lendbuzz.

FAQs

1. What is Lendbuzz’s main focus?

Lendbuzz focuses on providing auto loans to subprime borrowers using AI technology.

Conclusion

The partnership between Lendbuzz and Mitsubishi UFJ Financial Group signifies a significant step towards increasing access to credit for underserved consumers in the auto loan market.

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