Sagent Auto LLC and defi SOLUTIONS-DE LLC, two auto lending technology and services, are merging. The resulting company will be known as defi SOLUTIONS and 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 U.S. and Canada, and he will continue as CEO of Sagent Lending Technologies.
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.
