Lendbuzz is a fintech auto lender focused on two underserved borrower segments: consumers with no or thin credit files, and near-prime borrowers with VantageScores of 601-719. Lendbuzz argues that traditional credit scores poorly predict repayment ability for these groups, creating a mispricing opportunity that its proprietary AI underwriting model, AIRA®, is built to exploit. Lendbuzz originates loans exclusively through auto dealerships at the point of sale, partnering with 2,344 active dealerships across six states as of year-end 2025. Dealers submit applications through Lendbuzz's digital portal, and Lendbuzz funds qualifying loans — typically within eight hours. Lendbuzz earns money primarily through interest and fee income on loans held on its balance sheet, with a growing contribution from gains on loan sales to institutional investors and through ABS securitizations. The core profitability metric is excess spread — the difference between loan yields and funding costs, net of credit losses. Lendbuzz funds loans initially through warehouse credit facilities from major banks, then refinances through ABS transactions; it has issued roughly $2.2B in ABS bonds across ten transactions, with its most recent senior tranche rated AAA. Lendbuzz also sells whole loans outright to institutional investors, with $1.3B in principal sold in FY25. Growth is driven by adding dealerships through a direct sales force of 144 reps, with existing dealerships showing stable-to-growing origination volumes over time.