ARLINGTON, Texas, Sept. 10, 2024 /PRNewswire/ — Agora Data, Inc., a leading fintech company dedicated to empowering car dealers with finance company-level strength while maintaining their existing processes, is thrilled to announce additional funding capacity from Waterfall Asset Management for up to $100 million. This new mezzanine line of credit boosts Agora’s ability to support and expand participation from both independent and franchise auto dealers.
“This added capital from Waterfall Asset Management further strengthens our ability to serve more auto dealers and preserve equity to grow our operations,” said Chris Hawke, CFO of Agora Data, Inc. “We continue to provide unparalleled access to capital markets and flexibility to fund non-prime retail installment contracts. The transaction with Waterfall is another example of our commitment to delivering valuable resources and transforming the automotive finance landscape.”
“We are excited to partner with Agora, a rising leader in the auto fintech industry,” said Chris Bigos, Managing Director at Waterfall Asset Management, LLC. “We commend Agora’s pro-active approach in offering specialized financing strategies, enabling independent and franchise auto dealers to leverage innovation and enhance their non-prime funding capacity.”
Agora’s mission is to empower any car dealer to operate with the strength of a finance company without altering their current process. Using advanced AI modeling and innovative structures, dealerships generate added loan profit revenue, like large national dealer groups. Agora’s capital program seamlessly integrates with the existing F&I process, making it easy for dealerships to significantly enhance their bottom line.
