Lendbuzz, an artificial intelligence-based fintech company that helps consumers obtain better access to credit when purchasing a vehicle, announced this week that it has closed its first ABS transaction of the year.

The $246 million securitization was collateralized by a pool of auto loans made to obligors and secured by new and used automobiles, light duty trucks, and vans.

The company issued five classes of notes: Class A-1, Class A-2, Class B, Class C, Class D. The notes have been rated by Kroll Bond Rating Agency (KBRA) as K1+, AAA, AA, A and BBB-.

According to a new release, J.P. Morgan Securities acted as lead bookrunner and structuring agent, with both Goldman Sachs & Co. and RBC Capital Markets acting as joint bookrunners. Mizuho, MUFG and Regions Securities acted as co-managers on the transaction.

This transaction marks Lendbuzz’s 11th public securitization since launching the program in the fourth quarter of 2021.

To date, Lendbuzz has completed more than $2.4 billion of publicly syndicated asset-backed securitizations and remains committed to growing the program as part of its diverse funding strategy.

Management said the additional capacity will allow Lendbuzz to continue its mission to offer fair access to credit for underserved populations.

“We are excited to announce the successful completion of our first transaction of 2026,” Lendbuzz chief financial officer George Sclavos said in the news release. “The deal had incredible interest from our diverse and expanding investor base which speaks highly to the level of confidence the investment community has in our ABS program.”