Lendbuzz, which provides an online platform for auto loans, filed on Friday with the SEC to raise an estimated $250 million in an initial public offering.
The company provides auto loans using AI and machine learning models to evaluate credit risk, incorporating credit bureau data and alternative data, such as bank transactions and vehicle details, to assess applicants. Lendbuzz states that its target market consists of near-prime borrowers and credit-invisible customers, which it estimates totals 119 million people. As of June 30, 2025, the company had relationships with 2,164 auto dealerships.
The Boston, MA-based company was founded in 2015 and booked $329 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol LBZZ. Lendbuzz filed confidentially on February 6, 2024. Goldman Sachs, J.P. Morgan, RBC Capital Markets, Mizuho Securities, TD Securities, Citizens JMP, Keefe Bruyette Woods, and Needham & Co. are the joint bookrunners on the deal. No pricing terms were disclosed.
