(PRUnderground) June 11th, 2024
Agora Data, Inc., a fintech company providing technology, capital, and guidance with predictable loan performance and analytics, has launched a new program catered to meet the needs of small to mid-sized finance companies. This new program combines traditional bulk transactions with on-going flow arrangements. To kick-off the new program, Agora announces the successful completion of the inaugural funding of a $35 million-dollar transaction with additional follow-on capacity for $100 million for Freeway Funding, Inc. This new strategic financing capability provides consumer finance companies like Freeway Funding with seamless liquidity and the ability to accelerate growth plans.
“Agora is a trusted strategic partner, providing Freeway Funding a competitive advantage through advanced technology and robust capital resources. Its support has significantly increased our credit capacity, enabling us to meet our expanding capital requirements now and in the future,” said David Rabin, CEO and President of Freeway Funding, Inc.
“It’s a pleasure to collaborate with forward-thinking finance companies that seek innovative funding solutions and business improvements,” said Sharon Mancero, Managing Director of Agora Data. “Agora is dedicated to fostering growth for small to mid-tier auto finance companies. Our financial solutions provide these businesses with substantial capital, enhancing their ability to serve independent and franchise dealers and boost profitability.”
Agora Data provides access to capital markets without relinquishing ownership. By offering off-balance sheet non-recourse credit facilities, without the need for personal guarantees, Agora enables finance companies to receive $100 million in new capital and access the capital markets, fostering business expansion and financial stability.
About Freeway Funding, Inc.
Freeway Funding is a privately held consumer finance company specializing in the acquisition and servicing of non-prime retail installment contracts from a wide network of franchise and independent automobile dealers. Since its start in 2013, Freeway Funding has been committed to delivering flexible, dealer-centric consumer automobile loans, ensuring mutual growth and success for its partners and clients. For more information, visit www.freewayfunding.com or call (805) 981-2200 x286.
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 continues to bring groundbreaking financing solutions to an underserved market. For more information about AgoraCapital for finance companies, visit www.agoradata.com/agoracapital-finco or contact us at 1-877-592-4672.
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Original Press Release.
