Agora Data Successfully Secures $160 Million in Fourth Private Term Financing
ARLINGTON, TX
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August 17, 2023 09:06 AM Eastern Daylight Time
Agora Data, Inc., a fintech company transforming automotive financing for U.S. car dealerships by offering abundant, low-cost capital with precision loan performance data and analytics, closed a $160 million private term financing on August 11, 2023. This latest transaction represents the fourth privately placed term financing for Agora. Each of the company’s first three term financings performed better than projected.
“To close a term financing transaction in today’s challenging market conditions is proof-positive of the strength of the Agora team and how accurately we manage and predict portfolio performance,” said Steve Burke, CEO, Agora Data. “Fueling Agora’s 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 customers’ future growth.”
The $160 million private term financing marks a significant milestone in Agora Data’s growth trajectory. The company closed the first-ever crowdsourced auto securitization in late 2020, introducing a new way for car dealerships to access capital markets financing by aggregating loan portfolios of varying sizes. The company’s diversified financing strategy has resulted in multiple successful crowdsourced securitizations and private term transactions, all powered by its proprietary artificial intelligence (AI) and machine learning algorithms. With its patent pending modeling that delivers unparalleled accuracy, Agora leverages over $350 billion of loan data for car dealerships to optimize their non-prime portfolios. As a result, more favorable financing terms and highly competitive loan interest rates are available, reshaping the landscape of lending possibilities for dealers and finance companies to finance more non-prime customers, sell more cars, and make more money.
Access to abundant capital has been a longstanding challenge for U.S. car dealers who offer or who want to offer financing to non-prime customers. Agora proactively addresses these challenges and presents a transformative fintech approach for dealers to keep their customers and make a gross profit on cars and financing profit on loans.
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About Agora Data, Inc.
Agora Data, Inc. is an automotive industry fintech revolutionizing financing for car dealers and finance companies. Car dealerships can secure affordable capital to build their own non-prime captive finance company, obtain actionable loan performance data to improve their lending portfolios, and use a wide range of solutions to grow their business safely. Powered by patent pending artificial intelligence (AI) and machine learning technology, car dealers can access real-time data analytics and planning resources to help optimize the performance of their portfolios. Agora Data made history by closing the first-ever crowdsourced non-prime auto securitization in 2020 and continually brings groundbreaking financing solutions to an underserved market. For more information, visit www.agoradata.com or contact us at 1-877-592-4672.
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Eric Nemeth
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