Leading auto fintech firm Agora Data announced the closing of ACAST 2022-1, the company’s most recent crowdsourced securitization on May 5. Powered by proprietary machine learning algorithms and radical artificial intelligence, Agora continues to disrupt the auto finance market.
This most recent transaction aggregated more than 40 independent dealers and finance companies with auto loan portfolios ranging from $100 thousand to more than $60 million into a single securitization. This closing marks another major milestone in Agora’s commitment to non-prime auto loan originators and the auto finance market.
“I am excited for the dealer community as our patent pending use of artificial intelligence and finance solutions enable dealers of all sizes to compete on a level playing field with the large dealer groups and institutions,” said Steve Burke, CEO of Agora Data.
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Burke went on to say, “Securitizations enable Agora to offer higher advances plus abundant and affordable capital to independent dealers. The dealer receives all of the upside cash as consumer loans continue to perform. Furthermore, the non-recourse features of securitization help dealers with balance sheet management.”
Agora’s technology-based solutions offer dealers the best way to grow without giving up their equity or assuming too much risk. The company’s advanced data analytics forecast non-prime cash flows with precision using predictive modeling and artificial intelligence. The company’s platform also provides benchmarking and trends to maximize loan performance and optimize underwriting criteria to improve profitability.
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“Our prior securitizations are performing in line with expectations, validating Agora’s comprehensive data analytics with at least 98 percent accuracy,” said Chris Hawke, Agora’s CFO. “For dealers, that means the secret to low-cost funding is now unlocked. As a bonus, dealers can leverage their newly found capital to grow more safely, efficiently, and sustainably, since their operations are based on predictable and reliable data.”
The company expects to close more crowdsourced securitizations in 2022, providing unprecedented access to low-interest-rate funds and accelerating the growth of independent dealers and finance companies nationwide.
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