Oodle Car Finance recently finished an asset supported securitisation through a £350 million action that the company hopes to use to grow and expand their online business.
The oversubscribed transaction saw demand from 14 European and international bond investors.
Oodle aims to change the used car market by merging search and finance into one seamless digital process.
It has developed a dealer proposition that is designed to offer a more inclusive customer offering with fully automated, instant decisions, and a unique digital platform.
In addition to providing financial services to dealers and brokers, it is also developing direct to consumer services, including a smartphone app. Last year, the business also acquired car search engine Carsnip.
Oodle Car Finance Founder and Chief Executive Officer Jonny Clayton said: “This securitization is a game-changing milestone for Oodle, allowing us to drive our ambitious plans further forward and with the customer at the heart.
“A diversified funding base unlocks huge potential for our growth plans. It means more tech innovation and increased market collaboration.”
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