ARLINGTON, Texas, Sept. 9, 2021– Agora Data has received recognition in the AR500, a compilation from Auto Remarketing Magazine featuring the used car industry’s most influential companies in 2021. Agora’s selection is due to its innovative impact on the Buy Here Pay Here (BHPH) market and its commitment to solving some of the most well-known challenges in the industry.
“The BHPH dealer is one resilient and brilliant entrepreneur,” Steve Burke, CEO of Agora Data said. “Our vision is to remove capital and technology obstacles these dealers face every day – and as a result, catapult their businesses forward.”
Agora’s most recent history-making move was closing the industry’s first crowdsourced subprime securitizations in December 2020 and May 2021. Burke went on to say, “Large dealer groups and online retailers empowered with technology from Silicon Valley in addition to having access to money from the capital markets, are taking away market share from the neighborhood BHPH dealer. Until now, the BHPH dealer had limited defenses. Agora provides the technology and capital, making it the first and only option for a BHPH dealer to increase their market share and grow their business safely without giving up control or equity.”
Crowdsourced securitizations were unheard of a year ago. Agora overcame the overwhelming obstacles and looked forward to pioneering more solutions that solve age-old problems for BHPH dealers. Burke continued, “We have energized this breakthrough in low-cost funding and access to abundant capital will reshape the future for dealers, finance companies, capital markets, and even consumers – who benefit when savings are passed down to them.”
David Zapata of CarsMart in Berrien Springs, Mich., is one of the hundreds of dealers leveraging Agora’s analytics and capital solutions. “I see my business like a hard-working mule, very resilient. That represents my business. Something sturdy you can work with, but a mule is slow. It can get you from point A to point B, but it’s not going to be in a timely manner,” Zapata said. “Working with Agora, it’s like we’ve been given a carriage and two horses. Now I can take my business, load more into it and have a quicker way to get there.”
For BHPH dealers or finance companies wanting to learn more about Agora’s industry-disrupting capital solutions or to participate in upcoming securitizations, visit us at www.agoradata.com/agoracapital/
About Agora Data, Inc: Founded in 2017, Agora Data’s platform delivers a suite of tools to empower Buy Here Pay Here dealers and finance companies to maximize their success. Agora is disrupting and influencing the industry by connecting its dealers and finance company members to Wall Street and other capital resources previously only available to large dealer groups. Agora Data’s family of auto finance products provides a wide range of critical funding paths so originators can obtain the cash they need to fuel growth. Powered by Agora’s proprietary, radical, AI-infused technology platform, originators now have access to robust data analytics and planning resources to help optimize the performance of their portfolio. Agora Data made history by closing the first-ever Crowdsourced Subprime Auto Securitization in 2020 and followed that up with its second transaction in early 2021. For more information, visit agoradata.com or contact us at 877-592-4672.