- Agora Data has landed $160 million in privately placed term financing.
- The investment marks Agora Dataās fourth privately placed term financing round.
- While there is no word on total funding, todayās financing adds to the $100 million revolving credit line Agora Data received from Credit Suisse in September 2022.
Agora Data, a company that helps buy here pay here (BHPH) car dealers offer in-house financing, secured $160 million in privately placed term financing this month. The round represents the fourth privately placed term financing the company has received since it was founded in 2017.
āFueling Agoraās mission to enable any car dealer to be a finance company, this $160 million private term financing provides additional funding capacity and reiterates our commitment to our customersā future growth,ā said company CEO Steve Burke.
While there is no data on the amounts of the companyās previous three privately placed term financing rounds, Agora Data said that each of them performed better than projected. Todayās financing adds to the $100 million revolving credit facility the company received from Credit Suisse last September.
Founded in 2017, Agora Dataās Agora Capital helps car dealerships lend to non-prime customers. Lending to unattractive borrowers ultimately helps dealers sell more cars. To provide a competitive interest rate on these sub-prime loans, the company leverages AI to analyze over $350 billion in loan data. Agora Data also offers Agora Trade, a product that allows investors to buy a portfolio of seasoned auto loans at a lower rate of default.
Texas-based Agora Data targets the underbanked community and its strategy will likely fair well as the cost of living crisis, combined with a high interest rate environment, continues. Competitors in the auto financing space include CreditIQ, Creditas, Caribou (formerly known as MotoRefi), and others.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://finovate.com/agora-data-services-lands-160-million-for-used-car-financing/
- :has
- :is
- $100 million
- 2017
- 2022
- a
- Additional
- Adds
- AI
- allows
- also
- amounts
- analyze
- and
- any
- AS
- At
- auto
- BE
- Better
- Billion
- borrowers
- buy
- by
- Capacity
- car
- cars
- ceo
- combined
- commitment
- community
- company
- Companyās
- competitive
- competitors
- continues
- Cost
- credit
- CREDIT LINE
- credit suisse
- crisis
- Customers
- data
- dealer
- Default
- each
- enable
- Environment
- Facility
- fair
- finance
- financing
- Finovate
- For
- formerly
- Founded
- Fourth
- from
- funding
- future
- future growth
- Growth
- helps
- here
- High
- HTTPS
- in
- include
- interest
- INTEREST RATE
- investment
- Investors
- IT
- ITS
- jpg
- known
- lands
- Last
- lend
- lending
- leverages
- likely
- Line
- living
- loan
- Loans
- lower
- max-width
- million
- Mission
- Month
- more
- no
- of
- offer
- Offers
- on
- Others
- our
- over
- Pay
- performed
- plato
- Plato Data Intelligence
- PlatoData
- portfolio
- previous
- private
- Product
- projected
- provide
- provides
- Rate
- received
- represents
- round
- rounds
- Said
- seasoned
- sell
- September
- Services
- since
- Space
- Steve
- Strategy
- Suisse
- targets
- term
- than
- that
- The
- Them
- There.
- These
- this
- three
- to
- todayās
- Total
- Ultimately
- underbanked
- used
- was
- WELL
- will
- with
- Word
- zephyrnet