(PRUnderground) November 26th, 2024
Agora Data, Inc., a leading consumer fintech company delivering cutting-edge technology, capital solutions, and robust loan performance analytics for the subprime to non-prime market, recently completed a $24 million transaction for United Consumer Finance, an indirect auto finance company that is aligning strategic resources for future growth. This innovative funding solution combines traditional refinancing structures with forward-flow arrangements, illustrating how finance companies can leverage access to capital and advanced AI-driven analytics to expand operations and increase profitability.
“Agora is a trusted strategic partner equipping United Consumer Finance with innovative technology and comprehensive capital resources that enhance our ability to serve our network of auto dealers,” said Scott Strazdes, President of United Consumer Finance. “Their innovative liquidity solutions and exceptional support have expanded our credit capacity, enabling us to meet growth targets, boost profitability, and build a strong foundation for the future.”
“Agora Data’s commitment is to enhance support for the consumer finance industry by offering innovative financing solutions tailored to meet the unique needs of companies with loan portfolios under $250 million,” said Sharon Mancero, Managing Director and Head of Financial Institutions Group. “Through our inventive and strategic approach, financial institutions can seize new opportunities and increase their borrowing capacity by up to $100 million without the need for personal guarantees or equity dilution. We help businesses leverage access to capital and technology to enhance portfolio performance and attain sustainable growth.”
Agora Data enables consumer finance companies to fully utilize structured finance and AI-powered solutions. Financial institutions can broaden their activities without additional equity or tight financial agreements by using streamlined liquidity options. By supplying the required capital, Agora Data’s Financial Institutions Group supports independent consumer finance companies, banks, credit unions, investment firms, insurance providers, and other organizations in advancing portfolio growth, refining operational efficiency, and elevating profitability.
About United Consumer Finance
United Consumer Finance Inc is a licensed lending institution whose primary business is to provide automobile financing to individuals with less than perfect credit. Headquartered in Middleborough, Massachusetts, lending services are marketed through a network of independent automobile dealers in Massachusetts, Connecticut, New Hampshire, Pennsylvania, and Rhode Island. The company’s goal is to assist those who have had credit problems in the past with fast, efficient, and low-cost loan approvals.
About Agora Data, Inc.
Agora Data, Inc. is a leading consumer fintech company revolutionizing financing for the subprime and non-prime markets. Loan originators can secure capital, obtain actionable loan performance data to improve their portfolios, and use a wide range of solutions to grow their businesses safely. Powered by patent pending artificial intelligence (AI) and machine learning (ML) technology, loan originators can access real-time data analytics and planning resources to help optimize the performance of their portfolios. Agora Data, with deep roots in automotive, made history by closing the first-ever crowdsourced non-prime auto securitization in 2020 and continues to bring 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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Original Press Release.
