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Overview
Veros Credit provides auto financing solutions by acquiring and servicing motor vehicle retail installment contracts through a network of over 2,000 dealers. It partners with dealers to offer financing to customers, then purchases the resulting contracts and services them, earning interest and fees. With more than 30 years in automotive finance, it relies on direct relationships and a nationwide dealer network to serve subprime and near-prime borrowers. Its goal is to help customers with imperfect credit access vehicle financing while offering dealers dependable loan servicing.
About Veros Credit
Industries
Automotive & Transportation
Fintech
Financial Services
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$39.6M
Headquarters
Santa Ana, California
Founded
2010
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Simplify's Take
What believers are saying
- ITOCHU invested April 2025, adding capital and international operating discipline for expansion.
- Veros issued VEROS 2026-2 on July 15, 2026, proving continued securitization access.
- TurboPass integration and Vera chatbot reduce verification and servicing friction for dealers and borrowers.
What critics are saying
- Veros depends on ABS markets; July 2026 funding froze no capital, originations stall quickly.
- Subprime borrowers default first in recession; Veros’s $880 million portfolio takes immediate credit losses.
- UACC sued Veros over trade secrets in 2025, signaling relentless dealer-data warfare.
What makes Veros Credit unique
- Veros Credit runs indirect subprime auto lending through 2,000-plus dealers nationwide.
- Its Vera chatbot automates payments and account information across customer service and collections.
- KBRA says Veros has been profitable since inception, despite serving nonprime borrowers.
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Funding
Total Funding
$39.6M
Above
Industry Average
Funded Over
1 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Health Savings Account/Flexible Spending Account
401(k) Retirement Plan
401(k) Company Match
Tuition Reimbursement
Paid Holidays
Paid Time Off
Commuter Benefits
Referral Bonus
Meal Benefits
Paid Sick Leave
Paid Vacation
Employee Assistance Program (EAP)
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 0%Veros Auto Receivables Trust is raising $274.6 million through its first securitisation of 2026, backed by subprime auto loans for used vehicle purchases. The notes will be issued across six tranches—classes A through F—with Deutsche Bank Securities managing the deal, set to close on 27 February 2026. The collateral pool comprises approximately $296.4 million in auto loans as of 31 December 2025. Borrowers have a weighted average credit score of 589, with loans carrying an average principal balance of $16,555 and a weighted average interest rate of 22.93%. Credit enhancements include overcollateralisation at 7.35% and a reserve account of 1.00% of the initial pool balance, both decreased from the previous deal. However, total initial hard credit enhancement levels and subordination increased across all classes.
SANTA ANA, Calif., May 16, 2025 /PRNewswire-PRWeb/ - Veros Credit, a leading provider of auto financing solutions, is pleased to announce the appointment of Ravi Gandhi as Chief Strategy Officer, effective May 1, 2025.
Veros Credit announced a strategic investment from ITOCHU International Inc., potentially giving ITOCHU a minority stake. This partnership aims to leverage ITOCHU's global financial expertise and Veros Credit's technology-driven platform to expand nationally and enhance their product offerings in the U.S. non-prime automotive lending market. Veros Credit President Cyrus Bozorgi highlighted the collaboration as a significant milestone for growth and innovation in automotive financing.
Veros Credit expands collaboration with TurboPass Corporation.
Veros Credit is Hiring for 18 Jobs on Simplify!
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About Veros Credit
Industries
Automotive & Transportation
Fintech
Financial Services
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$39.6M
Headquarters
Santa Ana, California
Founded
2010
Veros Credit is Hiring for 18 Jobs on Simplify!
Find jobs on Simplify and start your career today