Agora Data Closes Breakthrough Crowdsourced Auto Securitization
(ARLINGTON,
Texas, January 06, 2021) Agora
Data, Inc. announced the successful closing on December 29, 2020, of the
first-ever crowdsourced auto securitization. This revolutionary development to
the world of structured finance represents a quantum leap for Buy Here Pay Here
dealers and smaller finance companies and their access to capital markets
funding. Through its use of artificial intelligence and machine learning, Agora
Data aggregated numerous originators with portfolios ranging in size from
$11,000 to more than $20 million into a single capital markets securitization.
Prior
to Agora Data’s technology, direct access to the capital markets with more
favorable financing terms was limited to only the largest institutional lenders
and auto dealers. With an AgoraCapital crowdsourced securitization, subprime
originators of all sizes now have a unique and viable financing option to obtain
lower-cost capital providing liquidity and fueling growth.
“AgoraCapital
has revolutionized access to affordable and abundant capital for the BHPH
dealer and small to mid-tier finance companies,” said Steve Burke, CEO, Agora
Data, Inc.
“This
type of transaction has never been accomplished before due to the complexity of
different originators and lack of technology. We have overcome all of these obstacles
and we are energized by this achievement that will unquestionably shape the
future for dealers, finance companies, capital markets, and consumers.”
“We
effectively aligned numerous Buy Here Pay Here dealers and finance companies
into a single transaction,” said Chris Hawke, Chief Revenue Officer, Agora
Data, Inc. “This successful transaction further validates Agora Data’s mission
to develop financial solutions that advance the growth of BHPH dealers and
finance companies in ways previously unimaginable.”
About Agora Data, Inc: Agora is re-inventing auto finance for Buy Here
Pay Here dealers and finance companies with a crowdsourcing platform that
bridges access to the capital market. Easy to use and analytically robust
business tools empower the untapped and diverse portfolios of the BHPH auto
market connecting dealers, sub-prime buyers, and capital market lenders with