Open Lending is an Austin, Texas–based provider of automated lending services focused on automotive lenders across the United States. Its flagship product, Lenders Protection, provides loan analytics, risk-based pricing, risk modeling and default insurance, together with automated decision technology. The platform is designed to help financial institutions better evaluate near- and non-prime auto loans and to ensure profitable auto loan portfolios. Management says the technology allows lenders to offer more credit to customers while protecting lenders' financial stability. The company plans to use new capital to fuel further growth in the automated lending industry and accelerate expansion among financial institutions, credit unions, and regional banks. Open Lending has secured strategic capital and board support intended to support that growth.

Total raised

$40M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2016