Lendbuzz CEO Amitay Kalmar will join Auto Finance News on stage at the 19th annual Auto Finance Summit, which will take place Oct. 28-30 at the Bellagio in Las Vegas.
Kalmar will present on leveraging technology to underwrite loans to consumers overlooked by the traditional credit system. His presentation will begin at 4:15 p.m. on Tuesday Oct. 29.
Boston-based Lendbuzz uses machine learning and data analytics to extend loans to foreign-born residents – those living in the U.S. who have limited or no credit history in the U.S., such as international students and ex-patriots. Rather than use a traditional credit score to assess risk, the 3-year-old company analyzes factors such as borrowers’ educational background, employment history and earning potential.
Most recently, Lendbuzz scored $150 million in debt and equity funding. The funds, Kalmar said, will be used to bolster the startup’s engineering squad, expand geographically and enhance its mobile app. With growth on the horizon, Kalmar said Lendbuzz is on track to increase originations 150% this year. So far, the company has originated $100 million in loans since the company’s founding.
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