Defi Solutions and Sagent Auto, two auto lending technology and services providers, have agreed to merge. The newly combined company will be known as Defi Solutions and be backed by Warburg Pincus, Bain Capital Ventures and Fiserv, Inc. No financial terms were disclosed. Bret Leech, CEO of Sagent Auto, will lead the newly merged company, which will be based in Westlake, Texas.
WESTLAKE, Texas–(BUSINESS WIRE)–defi SOLUTIONS-DE, LLC and Sagent Auto, LLC, two leaders in auto lending technology and services, have signed an agreement to merge. The resulting company, to be known as defi SOLUTIONS, will be uniquely positioned to elevate auto lender and consumer experiences with the broadest set of best-in-class products and services.
The new defi SOLUTIONS will have the financial backing of Warburg Pincus, Bain Capital Ventures, and Fiserv, Inc. Current Sagent Auto CEO and Board Member Bret Leech will lead the merged company that operates today in both the US and Canada and he will continue as CEO of Sagent Lending Technologies.
“Uniting these companies is an exciting step in a long-term vision to empower the lending industry with solutions that enable clients to embrace the future. We’re offering our clients a compelling vision that brings together our strengths of agility, scalability, stability, compliance and entrepreneurial innovation,” said Bret Leech.
“This merger has been designed to bring the best of today and tomorrow, while also minimizing disruption to our clients’ businesses,” said Stephanie Alsbrooks Hanson, founder and vice chair of defi SOLUTIONS. Alsbrooks Hanson will continue with defi SOLUTIONS, working to enhance relationships with current and future clients. “I’m excited about the opportunities created by this merger for our teams, clients and the industry overall.”
The new defi SOLUTIONS provides software solutions and services across all elements of the lending lifecycle: digital engagement, originations, servicing, loan and lease care, lease maturity management, remarketing and analytics. These offerings are tailored to the needs of captive lenders, national banks, regional banks, finance companies, credit unions and lending start-ups.
defi SOLUTIONS will be headquartered in Westlake, TX, and will retain the current Sagent Auto locations in King of Prussia, PA, and Amherst, NY.
This transaction is expected to close this month.
For FAQs and more information, go to: defisolutions.com/unity
About defi SOLUTIONS
defi SOLUTIONS provides a leading-edge loan origination system (LOS) platform that is completely configurable by lenders. The defi loan software system lets lenders manage the application lifecycle from online application to funding and servicing and receive analytics from a single platform. defi SOLUTIONS services are affordable, scalable, and easily changed with market demands.
About Sagent Auto and Sagent Lending Technologies
Sagent Auto is the auto financing solution and services business of Sagent Lending Technologies. Sagent’s vision is to improve the lending experience for everyone. Post close, Sagent Lending Technologies will continue to serve the mortgage and consumer servicing market with technology solutions that delight borrowers, increase efficiency, and improve agility in a demanding compliance environment for mortgage and consumer servicing. Sagent Lending Technologies will remain a joint venture between Warburg Pincus and Fiserv, Inc.